Saving for College Fees
I know my kids are still young, but like all parents, we have to plan for their future. Hubby and I don’t like to force our kids into working too hard for the academy like most “kiasu” parents, but we have to admit that it’s the norm for most Chinese in Malaysia to be anxious about their kids’ performances.
I am not sure if my kids would like to go for tertiary education, but since both hubby and I graduated from universities, tertiary education is a completion of formal education to me. I hope that my kids will enroll in any universities of their choices, and as long as they graduate, I don’t mind if they are working as professionals or not. Thus, we have to plan for them financially. It’s not easy to get into local universities even if the school fees are so much cheaper. I graduated from local university, so I know how is the life in there. But for most middle class families, we will be saving up a lot if our kids are in the local universities, and we don’t have to worry about getting loans for them as the expenses are affordable.
But if you would like to send your kids to study abroad, then money is everything to get things done, besides great results. We got the kids insurance with investment in hope that the returns will be higher by the time they need the money for tertiary education. Of course, we have to save up as well because you will never know how much money is needed 15 years from now to study abroad. Luckily, we don’t have any mortgages and it’s easier to plan for a solid financial base. If we have to pay for a lot of financial commitments, I doubt our quality of lives will be as good as what we are having now.
So, do I still need to get a house? That question has always been on my mind…
