Concerns Rise Over Children's Education Funding, Survey Reveals

May 05, 2024 | News On Japan

TOKYO - In a survey conducted by a major life insurance company to coincide with Children's Day on May 5th, it was revealed that over half of the respondents felt uneasy about saving for their children’s education.

According to the survey by Nippon Life, 59.1% of respondents expressed concern over education funding, with 25.7% saying they "feel uneasy" and 33.4% saying they "feel slightly uneasy."

When asked about their target amount for educational savings, the most common response from those who felt uneasy was "undecided" at 29.7%. This was followed by "300,000 to 500,000 yen" at 15.8% and "200,000 to 300,000 yen" at 12.4%.

The most popular method for preparing educational funds was "education insurance" at 35.6%, followed by "savings and fixed deposits" at 33.6%, and "mutual funds (including tsumitate NISA)" at 7.7%.

While traditional methods like education insurance and savings have declined, mutual funds, including tsumitate NISA, have seen a slight increase.

Naoko Kuga, a senior researcher at the NLI Research Institute, analyzed the trend, noting, "With the Nikkei Stock Average reaching a 34-year high, the mindset of 'from savings to investment' seems to be growing."

Source: ANN

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