Imali  ye qolo and investing

Imali yeqolo is known as a child grant given by government. It now 320 rands monthly. It from 0 to 18 years. What is this money for ? It suppose to help or add in child support .what we see it a misuse of this money some parents use this money for them self e.g. they buy alcohol, make them self beautiful, lay buy clothing and an child get nothing .On other hand some family are so poor they use this money to get food. It for their only income .Some people have there opinion on this money they say it must be abolished because it make people get pregnant just for this money.

 320 rands is so small to raise a child by my calculations and experience it  cost 3000 for a child monthly to get the best for the child .I did my calculations for this money. what will happens if we can save and invest this money for education or for better tomorrow?   

My calculation.

R320 monthly

320 monthly saved for a year R3840

3840 saved for 18 years

R76032

I assumed this money will grow by 10 percent you can get more for this money if you invest it on a stock exchange or buy unit trust or bonds.

76032 will go a long way in helping the child have a good tomorrow.

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