Mum can already feel the first kicks in her tummy and Dad is eager to know the baby's sex, while Grandma cannot wait to spoil the baby and Grandpa is bursting with pride. As you may have guessed, the family is preparing for a happy event this summer. That means the young, future parents are overwhelmed with questions to which they need answers so that they can make the necessary preparations.
They are wondering about a list because they have already been asked dozens of times since they announced the good news to their friends and family. Ultimately, Julie and Charel decided not to have a baby list because they both have nieces and nephews whose pram, baby carrier, changing table, nappy bag, clothing and more will be passed on to them. As for the rest, they plan to buy it second-hand as and when they’ll need it because the internet is certainly not lacking in adverts selling used baby supplies in great condition.
What they want most is for their baby to arrive in good health and for it to be able to enjoy the baby gifts received, rather than see them discarded when they are no longer needed.
Moreover, they believe it is wiser to give their baby a financial boost when it reaches adulthood. If they start saving money now, the amount accrued later will be larger, right? Although there is still plenty of time to think about it, prevention is better than cure!
Grandpa is absolutely determined to open a savings account for his grandson or granddaughter because that is what he did when Julie was born. She was still a newborn when he opened an account for her and began making monthly deposits. On special occasions such as her christening, communion, birthdays and so on, Julie's family also paid money into her account ‒ "for later", as they said. Julie was not allowed to access her account until she turned 18 and the amount accrued at that point was relatively high. Indeed, the 18 years of savings her father set aside for her, in addition to the generous gifts from her family and the interest earned on them at the end of each year, meant that Julie easily had enough of a nest egg to obtain a mortgage.
Without a doubt, modern savings accounts are quite different to the accounts a child might have had 30 years ago. There are two factors which explain this change:
As a good father with his child's future in mind, Charel asked his bank for information on the matter. The interest paid on savings accounts is currently not very attractive. He remembers seeing end-of-year statements where the amount of interest he had accumulated was EUR 500. Making money without doing a thing was not too bad!
However, that is all ancient history and certainly no longer the case. If he opened a savings account for his child today, the interest rate would be next to nothing, which means that, aside from the savings deposited in the account, the amount will hardly change at all.
This example uses the inflation calculator, with savings of EUR 10.000 and an inflation rate of 2% over a period of 18 years. The result shows that, because of the 2% inflation, in 18 years EUR 14.000 will be needed to acquire what can be purchased today with EUR 10.000. In other words, the initial savings of EUR 10.000 will only be worth EUR 7.000.
Without hesitation: long-term investments! During his meeting at the bank, Charel picked up all the information he needed to help him start investing for his child. He now has an investment plan that enables him to invest his money over the long term in various categories of product, to limit his risk of loss. He opened an S-Invest plan for the baby and to welcome it into the world, his bank gave him EUR 50 to invest. Together, he and Julie will invest a set amount each month and, rather than lying dormant in a savings account, the money will grow in value.
Oh no! We forgot about Grandpa. Given that Charel already has an investment plan in mind, he will invite Grandpa to open a savings account. That way, Charel will handle the investment side and Grandpa will be able to enjoy sharing the baby's account number with friends and family so they can make a contribution to celebrate the birth. And on any subsequent significant occasions if they wish so. Furthermore, when the baby's savings account is opened, the bank will transfer a gift of EUR 50 right into the account.
And, if he likes, Grandpa can also take out lalux-Study Cover insurance for his grandchild and receive an additional EUR 50 to be credited against the cost of the insurance product. Not only will Grandpa enjoy providing for his grandchild's future, the baby will also hold all the financial products it needs to ensure its finances are optimally managed.
This is a life insurance product that allows you to build up savings to prepare for your children's future studies or simply to support them as they make their first steps into the working world. The contributions are due over the full term of the policy, even if one of the insured parents dies.
When the policy matures, the amount saved is paid out to the child in quarterly instalments over five years so it can pay for its studies.
When it comes to finances, the baby is covered! Plus, it also earned EUR 150 for free, thanks to the products taken out by its father and grandfather.
Have you started planning financially for your baby's arrival? Whether your child is already here or not yet born, it is never too late to revisit your choices about its future. Find all the information you need on our page or ask your bank for guidance 😉.
It’s a fact that most of our customers open a savings account for their children at birth. And being a young father myself, I perfectly understand that this is very convenient to do so, in order to permit family and friends to easily put some money on it at any occasion.
Investing for your children gives you the chance to build up a fund for major expenses in the future, such as a university education or a down payment on a house. S-Invest, the Spuerkeess investment plan, offers a long-term investment opportunity.
Key rates are continuing to increase, which makes it more expensive for consumers to access credit. On the other hand, savings and some forms of investment, which were neglected during the period of historically low interest rates, are now making their comeback.
The news on the financial markets, inflation and geopolitical disruptions have left customers feeling unsettled and insecure. Why is it important to keep a cool head and think carefully about a savings strategy that diversifies your investments?
Mum can already feel the first kicks in her tummy and Dad is eager to know the baby's sex, while Grandma cannot wait to spoil the baby and Grandpa is bursting with pride. As you may have guessed, the family is preparing for a happy event this summer. That means the young, future parents are overwhelmed with questions to which they need answers so that they can make the necessary preparations.
![[Translate to English:]](/fileadmin/_processed_/8/f/csm_272__FIN__Que_faire_apres_l_unif__01_0f17e00166.jpg "[Translate to English:]")
The back-to-school season often coincides with a new stage in your life. You still remember your early school days and here comes the last semester at uni. Next year will be a big unknown! Entering the world of work, doing additional training or taking a gap year? Any project requires a financial cushion!
![[Translate to English:]](/fileadmin/_processed_/d/2/csm_AideFi_Diplome_88d34755dd.png "[Translate to English:]")
Louise is 19 years old and lives in Luxembourg with her mother and brother. She has just finished the last oral sessions on her final exams, and is waiting for the results. Phew! Soon a little rest and then the holidays. Despite being an excellent student, Louise put a lot of pressure on herself during her exams. Fortunately, her mother was very attentive, cooking her favourite dishes and supporting her as best she could during this stressful period.
When you become a parent, you worry about the well-being of your children. This is also true for their finances! By putting away a sum you are giving them an easier and more sure-footed start in life. There are different options to prepare their future and help them finance their studies or their first home. Savings account, insurance product or housing savings scheme: here’s just a few ideas to help you make the right choice according to your child’s age.
Do you find yourself brooding about your financial situation and not achieving your goals for saving and investing for your future? Making a financial plan can have a positive impact on your well-being. But how do you set a budget and stick to the plan? Discover our tips for becoming more Zen about your finances.
![[Translate to English:]](/fileadmin/_processed_/c/0/csm_309__nos_tuyaux_pour_une_Declaration__impots_reussie_e80c01f6dd.jpg "[Translate to English:]")
In February you received the famous letter from the Tax Administration asking you to submit your tax return for the previous year. From now on, the deadline for submitting your return is 31 December of the following year. In order to take better advantage of the possibilities offered by the Luxembourg government to reduce your tax burden, we have grouped together for you the products that are deductible from the taxable amount. We have also provided you with a tool to help you manage your tax return more effectively, and above all to save time and money!
You can't think about School Savings Day ("Fêtes de l'Epargne Scolaire") without also remembering the "Spuerbéchs"! Most of us still remember this special day in primary school, where we received our very first piggy bank from Spuerkeess. School Savings Day and the famous piggy banks are closely linked and represent the first occasion for children to learn about saving money.
![[Translate to English:]](/fileadmin/_processed_/e/5/csm_parlons-argent-aux-enfants-289_95d8bb506a.jpg "[Translate to English:]")
We all need a financial literacy. Teaching children the basics about how money works, its value and why to save it can spare them so much hassle as adults.
![[Translate to English:]](/fileadmin/_processed_/f/9/csm_270__Moyens_de_paiement_7cc660d547.jpg "[Translate to English:]")
Louise just graduated from secondary school. Her next steps are to prepare to leave for university, sort her things, sell some of her stuff, buy some new clothes, and pull together furniture and decor for her small studio while taking advantage of sales in Luxembourg and online.
![[Translate to English:]](/fileadmin/_processed_/0/a/csm_ouvrir-compte-bancaire-bebe_252_4d9c98e78b.jpg "[Translate to English:]")
Having your first baby is a big change for a couple and it’s best to be prepared. Besides buying baby gear, decorating the nursery, choosing a name, and organising a baby shower, there is also the administrative side to think about – including opening your baby’s first bank account.
![[Translate to English:]](/fileadmin/_processed_/d/c/csm_224__S_M__Pret_personnel_e3ab35169f.jpg "[Translate to English:]")
When Shauna and her husband moved into their flat in Bonnevoie, they didn’t have children and swore by public transport. But as their family has grown, they now definitely prefer travelling by car. When Shauna learned that she was expecting twins, it was a wonderful surprise. But with not one but two children running around, how would she and her husband manage to get them ready every morning and take them to nursery without then missing their bus to work? Shauna and her husband quickly decided it was time for them to invest in a car to make their lives easier.
Isn’t love wonderful! We fall in love and enter into a civil partnership but what happens if one of the partners dies? Here’s all you need to know!
