SARATOK: Parents are encouraged to make save every month for their children, especially their education.
Kalaka assemblyman Mohamad Duri said saving required high commitment.
“Discipline is very important. Therefore, when it’s payday, save as much as you can for your child. If you can get RM50 to RM100 a month, that’s good enough, and the savings should never be taken out.
“Save on the right platform such as the National Education Savings Scheme (SSPN), unit trust, Tabung Haji or the appropriate types.”
He said this during a question-and-answer session in conjunction with the Mahir Wang Community Programme (Komaw) here.
“It is clear that parents need to be disciplined considering the findings from a study by Family Finance Experts, Universiti Putra Malaysia showing that 84 per cent of Malaysians withdraw savings at the end of the month to cover daily expenses.
“Things like this are very worrying because it is highly likely that many families do not have savings for emergencies or old age.
“It is very important to apply the practice of saving from childhood. Let children be educated to have savings.”
“Be firm in making decisions about purchasing goods, be disciplined in spending and keep track of expenses.
“Can’t be too comfortable with salary and pension, instead try to increase side income,” he added.
