Simple ways to save for your child's education even with just P1,000 a month

Thinking about future expenses may seem daunting but you can start with these little steps.

Let's say you are 32 years old, Male, Non-smoker, with a 3 year old daughter.
Your daughter will enter college when she reaches 17 years old which is 14 years from now.

For P8,670 per year or P2,168 per quarter (roughly P723 per month, that's only P362 per payday!),
by the time your child is 17 yrs old, you would have a projected fund of P147K to P169K.

On top of that, you also have the following benefits
1. A safety net of P250K, that is, in case something happens to you, your child automatically gets P250K.
2. Total Disability Benefit. In case you become totally disabled, the plan will be considered Fully Paid and you don't have to pay for any premiums anymore.
3. Accidental Death Benefit. In case of death due to accident, your child will receive another Php250K on top of the insurance coverage in Item#1.

BUT if you can stretch your budget a little more, for an additional P359 pesos per month,
at P12,975 per year or P3,244 per quarter (roughly P1,082 per month, that's only P541 per payday!), your projected fund after 14 years becomes P205K to P236K.

On top of that,
1. Your safety net increases to 500K, that is, in case something happens to you, your child automatically gets P500K.
2. Total Disability Benefit. In case you become totally disabled, the plan will be considered Fully Paid and you don't have to pay for any premiums anymore.
3. Your Accidental Death Benefit also increases to P500K. That is, in case of death due to accident, your child will receive another Php500K on top of the insurance coverage in Item#1.


Saving and investing can be simple and easy.
All it takes is a little at a time, every time.

It's payday once again, take that baby step to saving and investing today.

I will be more than glad to explain this further if you have questions or clarifications.

Grace Cunanan
Sun Life Advisor
grace.c.cunanan[at]sunlife[dot]com[dot]ph