Putting Money away for your childs future?

We contacted AG directly and we arranged it telephonically. x

Julz, we had a broker here one day and after weeks of chatting to him and him coming to see us to discuss our options he just disappeared!

So I'm not too in love with brokers (sorry if anyone here is one )

I would like to admin it myself.

Marijke have you chatted to a broker. We have trusts as I say with A Gray and it is a mixture of both medium risk and lower risk.

We don't have a bond or debt

We also have a moneymarket account but the interest rate is really bad at the moment. It was 6.55% at the end of May. I get more interest at the postoffice!

I was on capitecs website last night and they offer on a fixed saving (for a year) between 7.23 - 7.63% interest. Would this be a good option?

I agree fully with pay off your home bond first.
However, grandparents gave LO R2000 with birth and asked that we open an account for her. We are with Absa, they have an account for children, "futureplan" I found that the interest was much better than the 32 day account over a period of 18 years. R200 gets deducted every month from our savings account into this account (the minimum is R100 I think).

I work for a financial advisor and according to law I cannot give you advice, but there is a great product at both Discovery and Liberty which you can take out to ensure that in the case of you or your partners death (I know this is not something we like to think about, but it is possible), your kids school and university fees are paid up to age 25. It really makes a huge differance for a single parent. Maybe you should ask your broker / financial advisor about this product.

With regard to the saving, my financial advisor always suggest to pay the bond first, like Julz friend suggested, but our friends save on a monthly basis and add a small lumpsum each b-day.