Saving for your Child's Education in the UAE
- Vidha Nigam
- April 30, 2024
- 6:17 am
As parents in the UAE, one of our top priorities is securing our children’s future. This includes ensuring they have access to quality education, which often comes with a significant financial commitment. Here’s how Sav, your personalized savings companion, can help you navigate this journey with a savvy approach:
- Setting SMART Goals:
The first step is to get clear about your savings goals. Determine the desired level of education (secondary, university, etc.) and estimate the associated costs. Factor in potential inflation to ensure your savings cover future expenses. Remember, setting SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) goals helps you stay focused and motivated.
- Leverage Automation and Gamification:
Sav empowers you to automate your savings with features like Salary Sorter which diverts a portion of your income directly into your child’s education goal, and Round-up Spare Change which seamlessly accumulates additional savings from daily expenses. This “set it and forget it” approach ensures consistent saving while minimizing the impact on your daily budget.
Furthermore, Sav’s gamification features incentivize continued saving. Every Dirham saved earns you Sav Coins, which can be redeemed for exciting rewards like free coffees and movie tickets. This playful approach keeps saving engaging, especially for younger children.
- Earn While You Save:
Sav not only helps you save but also helps you earn. Beyond Sav Coins, we offer exciting rewards including noon gift vouchers for consistent saving and cashback on utility bills. These rewards offer additional motivation and contribute to your overall savings goals.
- Make Saving a Shared Experience:
Encourage family participation by allowing loved ones to contribute to your child’s education goal directly through Sav’s secure sending and receiving feature (Sav ID). Celebrating milestones together and involving your child in age-appropriate discussions about saving fosters financial responsibility and strengthens family bonds.
- Explore “Save Now, Buy Later”:
Sav’s innovative Save Now, Buy Later (SNBL) feature empowers you to choose the desired educational product (e.g., laptop, course fees) and gradually save for it. This option provides a structured approach to acquiring specific educational needs without compromising your overall savings plan.
Starting early and saving consistently are key to achieving your child’s educational aspirations. Sav is here to be your trusted partner in this journey, offering a comprehensive and engaging platform to help you reach your financial goals. Connect with us on LinkedIn to learn more about how Sav can help you empower your child’s future.
Sav app will make you feel good about money with fun saving rules, and rewards for EVERY Dirham you save. We are ambitious, positive, and always focused on what matters most to people.
SNBL stands for Save Now Buy Later, a concept that encourages sustainable spending.
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You can get noon coupons at SAV coupons & vouchers. We also have coupons & vouchers from other top brands like Namshi, Aldo, fragrance & more.
Discount for Namshi coupon may vary according to your preference. It varies between the 5-20% range. You may check for Namshi coupon in our coupons collection.