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Parents with Schoolgoing Children
Junior’s going to school now, and you, are probably a lot
wiser in parenting matters. Still, it is normal for parents, no
matter how long into the job, to constantly ask themselves many
of these questions: Am I a good parent? Did I do what was best for
my child in that situation? Do I spend enough quality time with
my child, in between my job and my role as a wife? Is my spouse
and I doing enough to grow his education fund? If something happens
to either of us, what will my child be deprived of?
Instead of being paralysed by the frightening what-if's, take
positive action today to remove the fear. Draw up a financial plan
now to protect your children from disastrous what-if's and
to build up enough savings for their education. You might even want
to invest in an insurance plan to help you manage huge, unforeseen
expenses in the event of accidents or illnesses. The importance
of prudent financial planning for young children cannot be understated.
Start now, it is never too late!
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As Easy as 1-2-3
Proper financial planning will enable you to make the best
use of your limited financial resources. Follow these 6 easy steps
in planning for Junior’s financial future:
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1. |
Goal
Worksheet – What are your financial aspirations for Junior
over the short-, medium- and long-term? This worksheet helps us
crystallise those aspirations.
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2. |
Budget
Sheet – Trying to juggle between saving up for Junior’s
education and the competing need to save for a house or car? This
budget sheet should help you allocate your funds appropriately.
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3. |
Education
Cost Calculator – The price tag for putting Junior through
university is escalating, just how much will it be by the time Junior
is ready?
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4. |
Time
Value Calculator – “A dollar today is worth more than
a dollar tomorrow." How much will the dollars you put aside today
be worth by Year 18? |
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5. |
Net
Worth – Your net worth is simply the difference between
what you own (assets) and what you owe (liabilities). It gives
you a picture of your financial health at a specific point in
time.
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6. |
The Great Financial Planning Guide – At Great Eastern, making life great for our customers beings from the cradle. This
handbook thus has been written for parents with young children in mind. It seeks to provide some commonly asked questions with regards to ensuring financial security
for children which include what is financial planning and why the need for financial security for children. Click here to know more and/or to obtain a copy. |
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7. |
e-Financial Plan –
A step-by-step financial calculator to help you determine your
financial situation.
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8. |
Customised
life planning solutions – Don’t know how to get
started with a financial roadmap or which plan will meet your needs?
Let our Great Eastern Life Planner help you; click here to submit
an enquiry. |
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Have
an enquiry/ feedback for us?
Drop us a note here |
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Go to our “Learn More”
to read interesting parenting related articles.
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