Save money for your kids with SaveLend
Give your child a good financial start to adult life by saving at SaveLend. Whether you're saving for your child's first apartment or something completely different, we'll help you find the right one.
Give your child a flying economic start in life!
How much can you save for your child?
With the help of our savings calculator, you can see how your child's savings can grow when your money is put to work on our savings platform. We have set amounts corresponding to the child support and 18 year period, but you can of course adjust the parameters start amount, monthly savings and savings horizon to see how your capital can change over time.
The calculator's calculation is based on the average return on capital invested on the platform over the past 12 months.
Of which is interest:
Why should you save for your child at SaveLend?
There are of course many reasons to set up a savings for your child. For example, it could be a deposit for an apartment, a driving licence or an education. Many see child saving as a long-term investment, and can therefore think of a higher risk (the higher the risk, the greater the chance of return). Just having your savings in a regular bank account is also associated with a kind of risk because your money is unlikely to increase in value in line with inflation (which is around two percent per year). Saving to your child with the possibility of return is therefore as important as any saving – and unlike saving in shares or funds, saving in loans is often a more stable option. SaveLend's target return is 7-9% per year on invested capital after credit losses and fees, a target that we have reached or exceeded each year since its launch in 2014.
When it comes to risk, think about choosing a level that you feel safe with. If you want to know more about risks, you can read more here.
How much should you save for your children per month?
On average, Swedish parents save between SEK 300-500 per month per child. How much is reasonable to save depends, of course, on what conditions there are; how long the time horizon is, your income and what the money will be used for. Are you saving for your child's driver's license, home, education or something else? Keep in mind that the important thing is not how much you save, but that the saving actually happens.
At SaveLend, we recommend a first deposit of at least SEK 2000, after which you can choose how much or how little you save per month, but a good rule of thumb is to put away part (or all) of the child support.
When are you going to start saving for your child?
It's never too late to start saving for your child, but the sooner you start, the better. As mentioned earlier, it also depends to some extent on what the money is intended to go to. If the savings are intended to go to a cash contribution for a listing, higher capital is required than if the money is to go to, for example, a driving license.
Your child's opportunity to achieve stable returns
Compared to the stock market, saving in loans is often more stable. SaveLend's target return is 7-9% per year on invested capital after credit losses and fees, a target that we have reached or exceeded each year since its launch in 2014.
Regardless of how far you have to go until retirement, there is a large upside with a savings form that can give you the opportunity for stable returns in the long term. Save money where they work for you and not the other way around.