STARTING a habit to save money at an early age can be difficult but the returns are worthwhile.
“Many young adults do not have enough money to spend, they also find it tough to get a loan and even place down payment for a car or a house,” said Bandar Tun Razak MCA chief Datuk Chew Yin Keen at the National Education Savings Scheme’s (SSPN) Savings Deposit Contribution SSPN1M event.
Chew said the habit of saving should be cultivated at a young age so that these children would not have a heavy burden to bear when they begin working.
“In Malaysia, saving among youth is uncommon but we can start now at the primary school stage,” he said at the event attended by residents from public housing projects in Bandar Tun Razak.
l this habit to prepare for the children’s future education,” he said.
He later distributed contributions to 260 primary school pupils, with a RM50 deposit each into their SSPN account as a start to their savings plan.
Chew also promised to continue giving them the same amount for the next five years.
He said the government would give a matching grant of RM500 for each child between the ages of seven and 12, who had a minimum savings of RM500 in their SSPN-i or SSPN-i Plus account with the National Higher Education Fund Corporation (PTPTN).
Prime Minister Datuk Seri Najib Tun Razak made the announcement when he presented the 2018 Budget in Parliament last year to inculcate the habit of saving among parents.
Chew has so far distributed contributions to over 520 students, and aims to reach his target of 1,000 students by the end of April.
By Christina Low
TheStar Online
Read more at https://www.thestar.com.my/metro/metro-news/2018/04/04/bandar-tun-razak-pupils-get-head-start-in-saving-for-higher-education/#vdUSSpSqptoRsTi8.99
No comments:
Post a Comment