Wednesday, June 3, 2009

Savings for my Nieces and Nephews Education

June is here! It means that it is the time of year when kids start school and the parents worries a lot about tuition fees and school expenses which could be huge and a big chunk of the budget.

Since I am the one paying for all my nieces and nephews'(seven of them are school age)school tuition and other expenses, I thought that now is the best time to teach them and their parents the value of saving. I took a 1.5 liter bottle of Sprite and peg a daily savings of P50 per child (ten of them). The P50 is split between me and the child's parents - P10 from the parents and P40 from me. The P40, however, must be earned by the child by doing some good deeds - from the simple kissing tita mhe-anne hello as she arrives to getting a good score in their test to saying a prayer before going to bed. Just anything good, and simple. At the end of the month, the savings (bills normally) are deposited in the kids bank accounts which I keep. When they are in college, I can give the passbook as their birthday gift. For now though, the bank account is where I can get the money to pay for their other school expenses and the monthly premium for the endowment fund I got for each of my ten nieces and nephews.

No comments:

Post a Comment

Lakbayan Philippines Grade

My Lakbayan grade is A!

How much of the Philippines have you visited? Find out at Lakbayan!

Created by Eugene Villar.

Trotting The Globe

Travel Map
I've been to 660 cities in 26 countries
Mhe-Anne is an explorer that:
does their own thing
doesn't mind roughing it
lives on the edge
Travel cred: high
I rank in the top...
0.1% most cities visited - Philippines
0.1% most cities visited - Brunei Darussalam
0.1% most cities visited - Asia

Travel Philippines

Travel Philippines

Travel USA

Travel USA
New York - View from the Empire State Building

Travel Australia

Travel Australia
Opera House - Sydney