Naalala ko nanaman when I was child my Auntie always bring me to different places of my relatives para mamasko. That time if we received P100.00 that means so much na to us kasi nga bata kami and bibili lang kami what we want.
Now that I have children, at their early age, we teach them on how to value money, pano namin pinaghihirapan each cents. They have money bank or alkansya and we opened them their own savings account which they can widraw money at the right time and age nila. Now, we wanted to level up. I do have mutual fund as an investment and so far even if mababa ang kitaan sa stocks at least may earnings ako and recently I am happy I was able to get some portions kasi I need it. Yan yung funds na hindi instant ang pagkuha hehe. It takes days for your money to be deposited or pick up sa preferred money transfer mo.
Why I chose to open them mutual funds?
1. I want my children to understand na we cannot only just save sa bank instead may ibang savings diversion which is the mutual funds. In which they will earn in due time or when they reach the maturity.
2. Mutual fund is very flexible when it comes to changing your type of funds. Ako kasi I always go for equity funds though I can change naman twice, (this is what I remember) kaso I never do that kasi mas malaki ang earnings ng equity funds based sa history.
3. Compare to bank deposits, mas may chance na mag earn ang money ng kids such as profit na tinatawag.
4. Teaching my children to save and invest while they are young para when they grow old na eh may mahuhugot and better na maintindihan nila pagtanda kung ano nga ba ang compounding interest.
5. Though we are not focus on saving for their education, we meant to teach them the value of starting as early as now and this could mean long term investment.
Tips on getting a Mutual Funds for your Children
1. Decide what is your purpose of opening a MF for your kids. For most parents, it can be their education for some, can be use for their leisure, medical expenses etc.
2. Choose a reputable investment institution or broker for your child’s investment. Hesitant tayo so you need to take time to read reviews to help you decide better. Making sure na meron silang long term plan at excellent funds management.
3. Make sure you calculate the amount of time you plan to invest when your child needs it. Long term savings can be 5 years, 10 years and much longer pa like 20-30 years.
4. Decide how much amount you can shed monthly or annualy so you can sustain your kid’s mutual funds. I started at 5,000.00 and depositing 1,000.00 php every month para lumago.
5. Choose a mutual funds that doesn’t need to be monitored each time. For most industries, they have fund manager that monitors your investment.
Hope these helps momshies 🙂 I can refer you sa kakilala na FA. 🙂
Start investing and sayang ang napamaskuhan kung puro sa toys lang 🤗