Saving money for your child’s education

Planning ahead and understanding how to save for your children’s education is a vital step towards their future.

Your guide to costs

A parent planning children’s tuition fees, needs to consider the following costs involved: stationery, uniforms, sports gear, etc. are among the costs involved towards your children’s schooling year/s.

University costs, college or technikon do vary in costs, but usually are more expensive than school fees, depending on the type of tuition and field of study.

A necessary step would be to consider your child’s field of study, which also goes along with textbooks, computer hardware (where necessary), software as well as living expenses. One would need to consider the costs involved, jot down the key essentials and research all of these costs beforehand.

(Tip: create a guideline of potential costs involved and plan ahead with all the necessary essentials first. Compile something that will assist you in the process of the chosen path for your child’s future and calculate).

The general increase

As time goes by, things increase in price. This is how you will be able to know the total amount needed for you to save:

School tuition fees have a standard rate, so when applying at a primary, high school or tertiary education facilities, keep in mind the fee structure involved and how much the amount will increase. Calculate accordingly. The best option would be to call the necessary tuition and make sure the information is presented so that you are aware of what the costs would be at present and in future.

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