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55% of Singaporean parents not financially prepared for kids' education
By
MORE than half of Singaporean parents are not financially
prepared for their children's education, the 2013 OCBC survey on family
financial awareness revealed.
The survey polled over 570 respondents comprising parents with children below 16 years old, parents-to-be and those planning to start a family on their investment attitudes and financial habits.
More than half say they are either behind target or have not begun saving for their children's education. Only 45 per cent of them proclaim to be financially prepared.
About a third of parents or parents-to-be also believe they will be able to fund their children's tertiary education through savings or fixed deposits.
Moreover, close to half of the parents claim to have no hospitalisation plans for their children. The top reasons for this are procrastination and concerns about cost.
The survey polled over 570 respondents comprising parents with children below 16 years old, parents-to-be and those planning to start a family on their investment attitudes and financial habits.
More than half say they are either behind target or have not begun saving for their children's education. Only 45 per cent of them proclaim to be financially prepared.
About a third of parents or parents-to-be also believe they will be able to fund their children's tertiary education through savings or fixed deposits.
Moreover, close to half of the parents claim to have no hospitalisation plans for their children. The top reasons for this are procrastination and concerns about cost.
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