Planning for a child's growth

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Planning for a child's growth and education in Singapore involves careful financial preparation, considering rising education costs and the competitive academic environment. A practical strategy is to save SGD 500 to SGD 1,000 monthly, potentially accumulating SGD 108,000 to SGD 216,000 over 18 years. Families should allocate 15-20% of total savings for education, ensuring financial health while supporting educational goals. Costs for primary and secondary education range from SGD 10,000 to SGD 15,000 per year, increasing for tertiary education. Teaching financial literacy early empowers children to make informed decisions, fostering responsibility and long-term success in a competitive landscape.

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