Baby nowadays can be rich if the parents start doing financial planning for them. Of course, I can’t make her rich in a day but I’m actually save for her rainy days.

Before I proceed this post, really have to say many many thanks to all family and friends for their gifts and angpow for Baby Serene. Apart of the fullmoon gifts,  she also receives quite a lot of angpow during Chinese New Year. So its my duty to spend save it wisely.

I am not a good financial planner but I do get several ideas from friends. So basically I’m just follow what others do. I remember when I was a kid, all my angpow will be surrender to my mom. She says she save for me but I do not have any saving account at that time. I wonder where does all those money gone, maybe its already spent on my studies.

Junior savings account
My friend introduce me to get a saving account that comes with good interest rate. So I went to RHB and get further details.  Its actually an account that joints under my name. So I am the authoriser to all her transaction.

The interest rate if not mistaken comes with 3.0% per annum. It gives dividends every 6 months. Which is pretty nice. Other than that , the kids will be entitled for personal accident insurance as long as the savings balance more than RM500.  Last but not least, junior accounts must come with toys!

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I got this when I firstly open an account. I was given an elephant. I did not aware of the toys but then my friend told me as long as I can deposit RM200, they will reward you with a toy coin box. So I try again last week, and yes, this time I got a crocodile!

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At least the coin box is something that encourage the kids to save money.

Come to the end, practice some savings is always good. Create a saving account is the most basic way to start it. Some parents may choose to create FD accounts or any other type of investment. I beg that kids would be richer that way! For me, start it from a simple way will do. Hope this guide could help your baby too!

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