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How should I start saving for my child's future?

2636 moms shared how they navigated this decisionRight on time for 👦 3-6-months

4 approaches by moms

SSPN Accounts40% moms chose this path

Government-backed education savings offering annual tax reliefs and decent dividends.

Suits working Moms who want to maximise their annual income tax relief while saving. The dividends are usually credited early in the year and compound nicely.

SZ

Suhana Z.. · Working mom · Baby at 4 months

Opened SSPN Prime for the RM8,000 tax relief. The dividend is decent, but the tax savings make it totally worth it every year.

PY

Pei Yee T.. · First-time mom · Baby at 6 months

We dump all her Chinese New Year ang pow money straight into SSPN. It is strictly for university, so we cannot easily touch it.

ASNB Funds30% moms chose this path

High-yield government trust funds that compound your capital over the long term.

Suits value-conscious Moms looking for consistent, low-risk returns that beat standard fixed deposit rates. Getting an ASM allocation can be tough, but ASB is straightforward for Bumiputeras.

AF

Anis F.. · First-time mom · Baby at 3 months

I created an ASB Akaun Remaja the moment I got his birth certificate. Compounding interest over eighteen years will give him a massive head start.

CL

Chui Lin K.. · Experienced mom · Baby at 5 months

Managed to secure some ASM units after trying for months on the app. The dividends consistently beat our regular bank savings account rates.

Endowment Plans15% moms chose this path

Education insurance for forced monthly savings plans that include a life insurance protection rider.

Suits Moms who struggle with saving discipline and want guaranteed funds if anything happens to them. You must commit long-term, as early withdrawal means losing a chunk of money.

GM

Geetha M.. · Working mom · Baby at 6 months

Signed up for an endowment plan because I know I lack discipline. The payor rider ensures her education is funded even if I pass away.

Junior Accounts5% moms chose this path

Children's Bank Accounts — Basic savings accounts from local banks with a cute passbook.

Suits Moms who just want a simple, separate place to park baby gifts and cash. The interest rates are very low, but it is highly liquid for emergencies.

LV

Liyana V.. · First-time mom · Baby at 4 months

Just opened a Maybank Yippie account for his Raya money. Interest is basically nothing, but I like having a separate passbook to track his cash.

Expert guidance

University tuition can easily exceed six figures, making early financial planning essential. RinggitPlus and iMoney note parents often choose Simpan SSPN for its RM8,000 annual tax relief, ASNB funds for compounding, or endowment plans for insurance. What matters most is starting early to maximise compound interest, even if you begin with just RM50 a month.

Official sources

RinggitPlus

iMoney

Parenting decisions are personal, and every child is different. The information shared here includes real experiences from moms and guidance from expert and public sources, but should not replace professional medical or healthcare advice.

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