The Baby bloomer plan is a periodic savings plan that caters for expecting parents and parents of newly born children. This savings plan lets you plan your child's education before they even start going to school.
This plan lets you run your savings on autopilot. Simply set a frequency and savings date and you are good to go.
To set up a Baby Bloomer plan, follow the steps below:
- Click on the “Create a Savings plan” button. Click on the baby bloomer icon.
- Type in your kid’s name and click on the toggle button to select your kid’s gender. Click on the “Add a new kid” button, if you have more than one kid. Click the "Next" button to continue.
- Choose a name you wish to give to your plan. E.g “My school fees plan”. Click the "Next" button to continue.
- Select how often you wish to save on the plan. Click the "Next" button to continue.
- Select when your kid will be resuming school (this is the plan's duration). If you have a specific start and withdrawal date, click on the “Choose custom date” button and select a start and withdrawal date. Click the "Next" button to continue.
- Type in how much you would like to save every month and you will see how much you will get at the end of your plan duration. Click the "Next" button to continue.
- Next, you will see the target you will hit at the end of the plan. Click on the next button to proceed.
- You will view an overview of your plan before it will be created. If you are satisfied with the plan click on the "I like this. Let's do it" button at the bottom of the overview page.
- Next, you have to make payment. You can pay with either card or a bank transfer. After completing the transaction, click the "Next" button to continue.
Congratulations, your plan has been created.