30 Jan

Is the cost of sending your child to school stressing you out?

Today marks the first day of the new school year. For some parent’s, it’s their child’s first day of school and for others it’s the start of just another year. It can come as a relief for some parents and an emotional, stressful time for others.

One thing is for sure, with schooling comes added costs which can seem never-ending; school fees, uniforms, stationery, excursions, the list goes on and on. Budgeting for your child’s education can take the stress out of the start of the new school year, even if you child is already well and truly into their schooling it is never too late to start a savings plan.

Yearly fees for public schools can be up to $1000 per student and up to $25,000 per student for our state's top private schools. This adds up to be a lot of money over the course of the child’s schooling and that doesn’t even consider all the other costs associated with sending them to school.

So how do you get in front? Create a budget. By setting aside money each week or when you get paid to allow for the cost of your child’s schooling you can ensure you have the funds available when you need it. Make sure you allow for school fees, uniforms, excursions and stationery requirements.

You may even be able to save money by paying fees up-front each term or year, which can attract a discount and you can earn interest on the money while it sits in the account too. If you have an offset account on your home loan you could put the money into that account and offset the interest on your mortgage while saving for your child’s education.

If your child has not started school yet, now is the time to make a budget and start saving. You may even be able to invest the money so that when your child is due to start school you are ahead financially which will really help to take some stress out of the situation.

If you would like to chat to someone about your finances, contact the team at Rise High Financial Solutions and we will make sure we put you in touch with the right people to get you the advice you need.

Last modified on Monday, 06 March 2017 16:24

Marissa
Schulze

marissa-schulze

This email address is being protected from spambots. You need JavaScript enabled to view it.

JAMES
SCHULZE

james-schulze

This email address is being protected from spambots. You need JavaScript enabled to view it.

THUY
NGUYEN

thuy-nguyen

This email address is being protected from spambots. You need JavaScript enabled to view it.

Katie
Costa

katie-costa

This email address is being protected from spambots. You need JavaScript enabled to view it.

Nani
Johnston

nani-johnston

This email address is being protected from spambots. You need JavaScript enabled to view it.

KRISTIN
TUNBRIDGE

kristin-tunbridge

This email address is being protected from spambots. You need JavaScript enabled to view it.

RICHARD
O'GRADY

richard-ogrady

This email address is being protected from spambots. You need JavaScript enabled to view it.
Terms & Conditions | Privacy Policy | Template Design © Enee Solutions. All rights reserved.

Become a member

User Registration
or Cancel