Pretty much from the time we get our first job, we are told to plan for our futures. We are told to set aside money in a 401K, make the right investments, and plan for retirement. What they don’t prepare us for is planning our children’s future.
When my first son was born, I looked at the little creature in my arms and my heart felt like it was going to explode. At the same time though, I felt this overwhelming responsibility to make sure that he had the best future possible.
Little E was born a week before Christmas almost four years ago. Since he arrived rather unexpectedly before Christmas instead of on his January due date we not only received gifts for his birth but family members also gave him monetary gifts for Christmas. This is when I decided to start setting aside money for the boys’ future.
It is never too early to begin preparing for your child’s future. This not only sets them up for college, buying a house, or even their own retirement. It also gets a positive example for them when it comes to planning for their own retirement or financial future.
Voya Financial is wanting to help you prepare for your child’s future too. Voya Financial helps Americans plan, invest, and protect their savings. As difficult as the saving process can be, there are always ways to set aside a few extra dollars which can be earmarked toward saving for your child’s future.
A lot of people don’t know where to start when it comes to saving, however, it might be easier than you think. Some ideas are:
- Sell used toys and clothes. Sell the things that your children have outgrown and put that money into savings.
- Cut back. Your child doesn’t need 10 pairs of shoes, 3 video game systems, or every item they desire. They outgrow clothes and toys break but an investment lasts forever. Plus, it shows your children that by saving money in the short term, it will also benefit the long term.
- Save a little from each paycheck. Even if it is only $5 have a certain amount set aside each month. For me, I automatically have $25 added to each boy’s savings account on the first of the month. This makes saving easy since you don’t even have to think about it.
- Keep the change. Keep a jar in your kitchen and once a week clean out all of the spare change from your wallet. Don’t spend the change and let it accumulate throughout the year. At the end of the year take it to the bank and deposit the money into your children’s savings account. You will be surprised and how much you will have collected.
Since Voya Financial sees the importance in investing in children’s futures, they have come up with a very unique promotion. To celebrate National Save for Retirement Week, Voya is giving every baby born on October 19, 2015 (the first day of National Save for Retirement Week) the opportunity to receive a $500 mutual fund investment as a head start on their retirement.
Help Spread the Word!
If you or someone you know welcomed a baby on October 19, 2015 help that baby take the first step toward their financial future and sign them up for the opportunity to be eligible for a $500 mutual fund investment toward retirement from Voya. It’s easy to get started and easy to register. What is even better is that if you had multiples, you can sign both children up in order to receive the benefit!
