Children & Sustainability: Creating a safe, healthy & secure future for children

The future will not be possible without children, but what kind of future it will turn out to be depends a lot on how we raise them. And, in order to create a safe, healthy and secure future for our children, we must first realise how important our roles are as parents.

As parents, you are your child’s first base and place of reference – the foundation upon which they will build their own lives. How you think, behave, act, what you believe in and your values, the way you treat others, and how you communicate with your children and teach them to do certain things, will influence the way your children see themselves and the people and the world around them. How you provide for them also matters – the way you nurture, support, and educate them will build their confidence, their skills, and their motivations.

Others who come into your children’s lives will also exert their influence in some ways. And, as your child grows up, you will also, inevitably, want them to become independent individuals, with their own strengths, beliefs, and worldview. You want them to be better instead of younger carbon copies of you. So in order to build a future that is sustainable for your children – and their children and so on, you need to start with you.

Children: the key to a sustainable future

Have you ever wondered what a liveable future would look like for your children?

This is a question that can be considered in two parts:

The place – the planet, the animals, the environment. Will the future be filled with towering structures, polluted, grey, and dirty, with gridlock traffic being the norm? Or will it be filled with greenery, and bright, natural light, with sustainable structures and clean air and water?
The people – will your children have access to equal opportunities, a balanced lifestyle, accessible healthcare, and a harmonious coexistence with our ecosystem? Or is the future we leave them one controlled by the wealthy elite, hoarding resources for their benefit while everyone else struggles to make ends meet?

Perhaps you may think your children’s future will not be vastly different from yours. But think about how your parents grew up – you have probably heard stories of ten sen school canteen curry noodles and playing next to defunct tin mines. Now, think about when you were growing up – the canteen’s noodles were probably around RM1 and no way were your parents letting you get close to any tin mines. What about now, while your children are growing up? How much do curry noodles cost at their school? And do they even know what tin mines are?

The world has changed so rapidly across a handful of decades, and the truth is, the people and the place are not mutually exclusive when it comes to creating a truly liveable future for our children. According to the World Health Organization (WHO), “Enabling young children to achieve their full developmental potential is a human right and a critical requisite for sustainable development”¹. How we nurture and care for our children will significantly impact the decisions they make, the policies they put in place, and the actions they take as adults. After all, a child whose welfare, health and education is neglected may not have the capacity to make well-informed decisions for themselves, much less society as a whole.

Securing a sustainable future for your child

WHO’s Nurturing Care for Early Childhood Development framework lists five components critical in ensuring children get the best start in life:

Source: World Health Organization
Nurturing Care for Early Childhood Development

Even though your child’s future will, in some way, be inevitably affected by the actions of others, the root of who they can and will become starts at home. The WHO framework can still be applied to the home with:

Good health: Treating your child’s coughs and bruises, and seeking outside medical attention when necessary.
Adequate nutrition: Providing your child with the nutrition they need to grow strong and healthy.
Responsive caregiving: Adapting your parenting style to suit the needs of your children, and to be there for them when they need you.
Security and safety: Providing a roof over your child’s head and sufficient financial funds to meet the needs of your child’s growing expenses.
Opportunities for learning: Teaching them how to play, potty training, sending them to school and university, and imparting important values.

What can we do for our children ?

It takes more than love and discipline to raise a child, however, because it can get expensive. Depending on where you live and lifestyle factors, the cost of raising a child in Malaysia is roughly between RM393,000 to RM1.3 million per child, with higher education making up 30% to 50% of the cost². If your child is born with or develops a debilitating or critical illness, this cost can go up significantly.

Here’s a list of basic costs you can expect to incur when raising children:

Pregnancy care and delivery charges.
Basic daily necessities, including food, clothing and furniture.
Childcare, including pre-school years.
Primary and secondary education.
Tertiary education.
Medical fees.

Parents usually rely on their savings and annual income to cover the costs of raising a child, but this may not be sufficient, especially when taking into account inflation rates and unexpected emergencies and expenses. Responsible parents need to be financially prepared so they can help their children realise their full potential.

Here's some ideas on how you can financially prepare for the costs of raising a child:

Start a savings account under your child’s name as soon as they are born. You can also start saving earlier or opt for fixed deposits.
Invest in funds such as ASB or private investment funds, or, if you have the money, invest in property that can later be sold to fund your child’s higher education.
Set up a trust fund.
Subscribe to takaful plans that provide medical protection, education coverage, investment potential, and other useful benefits.
Spread your funds around – don’t put them all in one basket.
Teach your children how to save.

The most important thing, however, is to start preparing now. Regardless of whether you’re just starting to plan to have children, have one on the way, or already have a school-going kid, if you’re only planning to rely on your income and savings, it’s time to implement a better financial strategy.

Securing a sustainable future for your child with PruBSN Impian

Raising a child comes with many challenges and unpredictabilities, but there are many things we can do to prepare ourselves especially from a financial standpoint.

A Shariah-compliant takaful plan, PruBSN Impian provides financial and medical support from pregnancy and beyond, and, more importantly, it provides significant peace of mind so you can focus on what really matters – caring for and raising your child, and enjoying life as a family. Features include:

Available to all pregnant mothers and their child from 14 gestational weeks
Minimum monthly contribution of RM50.
Rewards your child with an EduAchieve Bonus for outstanding academic achievements.
Save for your children’s future with Takaful Saver Impian.
Coverage if your child contracts a child-specific illness, or in the event of possible pregnancy complications, with Infant Secure and Vital Care Plus riders.
Death and Total Permanent Disability benefits.
With an expiry option of up to 100 years old, all protection and benefits (except for pregnancy care and child care benefits) applies throughout your child’s life.
Customisable to suit your protection needs.

Let’s secure your child’s future with takaful protection. Call 03 2775 7188, email customer@prubsn.com.my or SMS 33080 today.

What plans do you have in place to ensure a sustainable future for your child or children? Please share this article with other parents and parents-to-be so they, too, can provide a more secure and sustainable future for their children.

Interested in reading more about sustainability? Check out our previous article, “Sustainability and Islam: Embracing the spiritual meaning of sustainability for the greater good”.