Due to the ever-increasing cost of living, one of the major challenges for young couples considering starting a family is the financial aspect.
So, how much money does it take to raise a child in Malaysia? Let’s find out the average monthly expenses:
• Newborn to 2 years – from RM1,090 to RM2,250 for child care including routine check-ups and immunisations, formula milk, food, diapers and clothing
• 2 to 4 years – from RM940 to RM2,070 for child care, food, diapers and clothing
• 5 to 6 years – from RM970 to RM1,200 ranging from kindergarten fee, daycare, transportation fee, foods to clothing
• 7 to 12 years – from RM490 to RM820 ranging from school-related fees, study tools, transportation fees, transit centre fees to foods
• 13 to 17 years – from RM540 to RM1,270 ranging from school-related fees, study tools, food expenses, transportation fees to tuition classes
While you work hard to provide the best life possible for your family, it’s also important to consider their future. To ensure that if and when you pass on, they are left with a legacy full of possibilities and a bright future, rather than a legacy full of worries. FWD Invest First Plus is an investment plan that magnifies your savings so you can pass them on to your next generation while also protecting your family’s well-being. Talk to our Agent to sign up now!