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How Much Should We Save For Our Children? - Family (2) - Nairaland

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Re: How Much Should We Save For Our Children? by Nobody: 5:29pm On May 10, 2023
Save? You don't save money for your children - you give them good education in all respects. Their futures are thus secured. Is it the money that loses value with every passing day that you want to save?

1 Like

Re: How Much Should We Save For Our Children? by Naturalista(f): 5:30pm On May 10, 2023
Nice2







Saving for your children's education is paramount.Putting aside 20000 every month for 18 years will amount to about 4,320,000.Its quite substantial for Uni education.I work for an Insurance firm that has this type of dedicated savings.By that time you won't have to dig into your pension funds to start training your child depending on how old you are right now.You can send me a message for further details.


023:
Saving money is vital for every human survival especially now that the economy has changed terribly.

Aside saving money for my children,which i am yet to start,I have secured lands for them.

I want to know how much,I mean what percent of one's income should be saved for them till they are 18tears of age?

Re: How Much Should We Save For Our Children? by just2endowed: 5:32pm On May 10, 2023
wunmi590:


5% for total contribution per annum....

I don't even care about that, I just want to save it, because the present Nigeria is not smiling, as you are earning you are spending it immediately...

It might have gone up, but when I started, it was 5%

can you inquire about the current rate because inflation wise, i would have suggest u invest in a better saving plan in any good fund managers that pays higher up to 10% and it get increase as cbn changes interest rate
Re: How Much Should We Save For Our Children? by just2endowed: 5:32pm On May 10, 2023
Okealaaye:
Save? You don't save money for your children - you give them good education in all respects. Their futures are thus secured. Is it the money that loses value with every passing day that you want to save?

u are right

1 Like

Re: How Much Should We Save For Our Children? by olaniyilukman(m): 5:37pm On May 10, 2023
Godwin4444:
saving money that will depreciate in value?


Y don’t u build investments in their name?

Land is also cool cos it will appreciate
Bless you bro, saving money in this present Nigeria is tantamount to remain stagnant, you just save money and it will continue to depreciate in value because of our useless economy and the backward effect will set in....
Re: How Much Should We Save For Our Children? by wunmi590(m): 5:38pm On May 10, 2023
just2endowed:


can you inquire about the current rate because inflation wise, i would have suggest u invest in a better saving plan in any good fund managers that pays higher up to 10% and it get increase as cbn changes interest rate


Ok,

I will do that from that my friend....

Thank you for your concern
Re: How Much Should We Save For Our Children? by princetom1(m): 5:38pm On May 10, 2023
Ahmed0336:
10k monthly for each of them, local man cannot can undecided

That will be 2m plus in 18 years... By 18 years time, that 2m no go worth anything if Nigeria continues the ways it's spiraling downward

1 Like

Re: How Much Should We Save For Our Children? by olaniyilukman(m): 5:39pm On May 10, 2023
Okealaaye:
Save? You don't save money for your children - you give them good education in all respects. Their futures are thus secured. Is it the money that loses value with every passing day that you want to save?
Forget joe, which one is good education, when tout are earning billions and graduate are struggling with #20000 salary payment....

2 Likes

Re: How Much Should We Save For Our Children? by wunmi590(m): 5:41pm On May 10, 2023
RenegadeX:


Who no like money chief? 😎


cheesy
Re: How Much Should We Save For Our Children? by Graficient: 5:45pm On May 10, 2023
SoftP:
buy more properties in choice locations & secure it,
I bet it will appreciates to healthy millions in future…

Saving money in bank for the kids in this country where the monetary value depreciates daily might not be a good investment.
besides, our banks aren’t trust worthy enough to build your interest…

My humble opinion

I have properties for my two kids, l just build gateman bedsitter house and plant palm trees in the remaining space. I don't have power to build big house, infact two of the properties cooperative is deducting the payment from my salary. I might sell one to japa soon. That would be a better investment for them

1 Like

Re: How Much Should We Save For Our Children? by culf: 5:58pm On May 10, 2023
Nice2023:
Saving money is vital for every human survival especially now that the economy has changed terribly.

Aside saving money for my children,which i am yet to start,I have secured lands for them.

I want to know how much,I mean what percent of one's income should be saved for them till they are 18tears of age?



Have education endowment plan for them in any good insurance company and that will guarantee a good education for them, that is what is important not saving money for them. By 18, let them have skills that will be bringing in money for them.
Re: How Much Should We Save For Our Children? by culf: 5:59pm On May 10, 2023
Godwin4444:
saving money that will depreciate in value?


Y don’t u build investments in their name?

Land is also cool cos it will appreciate

what if the person die and the property becomes an issue or is taken away?
Re: How Much Should We Save For Our Children? by Hahjascho(m): 6:01pm On May 10, 2023
Nice2023:
Saving money is vital for every human survival especially now that the economy has changed terribly.

Aside saving money for my children,which i am yet to start,I have secured lands for them.

I want to know how much,I mean what percent of one's income should be saved for them till they are 18tears of age?

First of all, give them your real convictions about life. Though money is good but, gats offer them something money can not buy.

1 Like

Re: How Much Should We Save For Our Children? by riczy(m): 6:15pm On May 10, 2023
How much did ur father saved for u, live ur life abeg! All man for him self!
Re: How Much Should We Save For Our Children? by Kendrick80(m): 6:25pm On May 10, 2023
Blue passport

1 Like

Re: How Much Should We Save For Our Children? by coputa(m): 6:51pm On May 10, 2023
Nice2023:
Saving money is vital for every human survival especially now that the economy has changed terribly.

Aside saving money for my children,which i am yet to start,I have secured lands for them.

I want to know how much,I mean what percent of one's income should be saved for them till they are 18tears of age?

Savings is not tenable in Nigeria, it will all be wiped away by inflation before they gets to 18 years.

The sure thing to do is put the fund into real estate, that's one of the investment that beats inflation in Nigeria.
Re: How Much Should We Save For Our Children? by Lanre1st(m): 7:04pm On May 10, 2023
To me, I have different opinion. I think save and make right investment for yourself not your children, if theyhave interestin it groom them in it. Good Education and proper training is the only and best future saving you can give your children. Any other things you safe may not impress them in future or may not relevant.
Re: How Much Should We Save For Our Children? by Nobody: 7:21pm On May 10, 2023
Nice2023:
Saving money is vital for every human survival especially now that the economy has changed terribly.

Aside saving money for my children,which i am yet to start,I have secured lands for them.

I want to know how much,I mean what percent of one's income should be saved for them till they are 18tears of age?





Give quality education. Money is nothing If they are not properly educated and in good professions. cool cool cool cool cool cool cool cool

1 Like

Re: How Much Should We Save For Our Children? by Okeyc230: 7:35pm On May 10, 2023
Save 33% of your income
Re: How Much Should We Save For Our Children? by phemmyfour: 7:47pm On May 10, 2023
Nice2023:
Saving money is vital for every human survival especially now that the economy has changed terribly.

Aside saving money for my children,which i am yet to start,I have secured lands for them.

I want to know how much,I mean what percent of one's income should be saved for them till they are 18tears of age?

saving in naira is useless. Buy properties instead
Re: How Much Should We Save For Our Children? by SUNDAYSIO(m): 7:48pm On May 10, 2023
Ahmed0336:
10k monthly for each of them, local man cannot can undecided


Who is a LOCAL MAN?
Re: How Much Should We Save For Our Children? by kkins25(m): 7:50pm On May 10, 2023
It'll be better to invest than save. Inflation is coming. bonds, mutual funds, ETFs. these are safe options since youre gearing towards long term.
Re: How Much Should We Save For Our Children? by Omoapena(m): 8:00pm On May 10, 2023
Nice2023:
Saving money is vital for every human survival especially now that the economy has changed terribly.

Aside saving money for my children,which i am yet to start,I have secured lands for them.

I want to know how much,I mean what percent of one's income should be saved for them till they are 18tears of age?



Only people with excess will think of saving for kids, save for retirement age...

1 Like

Re: How Much Should We Save For Our Children? by Modifire(m): 8:08pm On May 10, 2023
Nice2023:
Saving money is vital for every human survival especially now that the economy has changed terribly.

Aside saving money for my children,which i am yet to start,I have secured lands for them.

I want to know how much,I mean what percent of one's income should be saved for them till they are 18tears of age?

Certainly not what could frustrate you, some children's of nowadays are very lazy and irresponsible they don't want to do anything for themselves allow them to know the purpose of sweating,hence the value of money. Don't save everything for your children, don't spoil your kids. That's my warning to you when you're still alive becouse once you're gone now they would never value your sweat.
Re: How Much Should We Save For Our Children? by akube34: 8:26pm On May 10, 2023
Kellie069:
I don’t have a child yet. But got plenty of lands around which appreciates on a regular basis. Have my building on one and that’s the only house I may build . If dem like , make dem sell the land take chop agbado when them grow, na them sabi. I’ll keep buying tho and I am thankful because I have never sold any land because of financial difficulties over the years . But for naira, nothing de. Na nkwobi and Heineken money de my acct plus emergency funds
where do you buy your lands
Re: How Much Should We Save For Our Children? by ukaface(f): 8:41pm On May 10, 2023
I no know say them Dey save for children o

Tor!
What if I want them to work for their money, am I being wicked??
I mean they need to know what it means to work and save and how to budget wisely. You go just come reach 18years and meet 20mill for your account just like that?
I’m not saying they won’t go to the best schools, or won’t have the best clothes but Abeg ooo… do normal, live, work, and see life

1 Like

Re: How Much Should We Save For Our Children? by Rubbiish(m): 8:42pm On May 10, 2023
Omoapena:



Only people with excess will think of saving for kids, save for retirement age...
Na this one me know oh
I hope those saving for their kids are also saving for their retirement. Last last these kids will face their life & families. You will only be left with your retirement plan...

1 Like

Re: How Much Should We Save For Our Children? by lexy2014: 9:05pm On May 10, 2023
Nice2023:
Saving money is vital for every human survival especially now that the economy has changed terribly.

Aside saving money for my children,which i am yet to start,I have secured lands for them.

I want to know how much,I mean what percent of one's income should be saved for them till they are 18tears of age?


What a dumb and lame question
Re: How Much Should We Save For Our Children? by Clinghton: 9:29pm On May 10, 2023
Saving is good but equipping them is better.
Re: How Much Should We Save For Our Children? by blesdman(m): 9:55pm On May 10, 2023
Oluromantic:
It depends on how much your income is. Mark out a good percentage that will sum up to something huge in a matter of years
Save in dollars or lands instead of naira.. u are only enriching the banks by saving in the bank
Re: How Much Should We Save For Our Children? by fijihems: 9:55pm On May 10, 2023
The best thing you can do for your children is good education and proper upbringing. Let them struggle and make their own money.
Re: How Much Should We Save For Our Children? by Abudu2000(m): 10:32pm On May 10, 2023
See them with their bragging words, if you are so confident you can save your kids from the future then build a business and train then to run it after your demise. No amount of lands or money in the account can help an uneducated child.

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