Many parents skip payments to afford back-to-school expenses – survey

Many parents are battling to afford back-to-school expenses and resort to skipping paying their medical aid and insurance premiums. Back-to-school has become a stressful time for parents all over South Africa due to the high cost of living.

According to a survey 1Life Insurance conducted in December 2023 among 1 983 South Africans, 88% of parents will have to cut back on essential monthly expenses such as food and transport to cover back-to-school expenses.

The survey shows that over 36% of parents are most worried about the cost of school fees, which comes as no shock if you consider the steep cost of quality education. Additionally, the second largest concern is school uniforms (31%) and as a close third, the cost of stationery (29%)

“South Africans are under a lot of financial strain as it is. Add the cost of school essentials such as stationery, uniforms and learning material and many cannot cover the costs without making drastic lifestyle changes, taking loans, or digging into their savings,” says Brina Biggs, senior manager at 1Life Insurance. 

When parents were asked in the survey how they cover back-to-school expenses, more than 50% said they did not save for these expenses, while 20% said they will have to wait for their January salary to cover some of the costs. This means that children start the school year without the uniforms and stationery they need, Briggs says.

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How some parents afford back-to-school expenses

Meanwhile, others either use their year-end bonus (18%), some buy items through the year (11%), to avoid having to buy in bulk at the start of the new year, while others ask family members for help (10%), take out a loan (9%), use the social grant they receive from government (8%), or use their credit card (7%).

Briggs says if you consider that less than 2% of students have access to a scholarship, the reality is that all costs fall on parents and most of them are already in a tight financial space.

“In fact, the research shows that around 98% of parents are experiencing financial strain regarding back-to-school expenses.”

It is also important to remember that 50% of these households are headed by a single parent, while 72% have two or more children.

“The compounded impact of back-to-school pressures is that many consumers are likely to then sacrifice other essential debit order payments such as medical aid and insurance to ensure their children can start school with everything they need and this can of course have much more dire consequences for the family’s financial security in the long term,” she says.

“While certainly difficult in this economy, it is essential that consumers start planning and saving effectively for these expenses ensuring that they can honour their important payments and do not have to start the year with debt.”