The expert spoke about ways to save money by the age of majority of the child

Starting an independent life without initial investments can be difficult for young people, so many parents try to create a budget by the time the child reaches adulthood. This was announced on July 19 by Sergey Belyakov, President of the National Association of Non-Governmental Pension Funds (NAPF).

According to the expert, long—term savings programs from non-governmental pension funds (NPFs) are one of the best ways to create financial capital for a child. The key advantage of the PDS is a combination of systematic savings and government support, which manifests itself in the form of tax benefits and direct co-financing.

"Even relatively small but systematic investments, for example, 3 thousand rubles per month, can turn into over 3 million rubles by the 18th birthday of a child," he said in an interview with the Prime agency.

As the expert explained, family members can open a separate account and replenish it regularly. Then the NPF will invest this money in stable assets for a long time. Due to this, the capital will not only be preserved, but also grow due to compound interest.

"These funds can be used to pay for higher education, purchase housing, start your own business, or for other significant purposes," Belyakov said.

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