Managing back-to-school expenses

HOW SOON SHOULD BUDGETING BEGIN?

For parents with children who will attend school for the first time, as well as those who will start a new grade in the new school term, budgeting should begin at least two to three months prior to the new term or as soon as the last term ends.

The reason for this is, everything the child needs to start school will take money. Parents have to spend some time to analyse their financial situation so as to determine where to source the funds to finance these needs, or where to source the items themselves, so as to minimise expenses and therefore save.

HOW WILL PARENTS AND CAREGIVERS KNOW WHAT TO PLAN AND BUDGET FOR?

Normally, when a child registers for a new school, the parent is supplied with a book list as well as a list of other needed supplies, including the style (fabric type and colour) and accessories needed for the school uniform; for example, ties, belts, badges, etc; gears for physical education. Also, parents are informed of the amount to be paid for school fees as well as the due date and where to pay it.

Notation is usually made on these lists of what is available at the school, on sale, on rental, or at no cost to the parent. Parents are encouraged to develop a close relationship with the school’s guidance counsellor or principal, and to ask a lot of questions, especially when things are not expressly stated or outlined in any document provided by the child’s school.

Usually, if the parent expresses any difficulty meeting any of the child’s school expenses, school officials will offer advice as to what avenues are available to them to ease their financial burdens, whether by the school itself or by the Government.

The Bible says, “...many advisers make victory sure...” Parents are therefore further encouraged to seek advice from other parents they know, whose child attends(ed) that same school or is in a similar grade at another school. This may result in a further benefit, as they may be able to access some second-hand books and supplies from these individuals.

IMPORTANT BACK-TOSCHOOL EXPENSES PARENTS SHOULD CONSIDER

Having conducted their research, parents must sit down and write a list of all known expenses. It is also important to set aside some funds for unforeseen needs, so as to offset any expense that may arise during the year that were not considered in the original budget plan. Items must also be prioritised on of need, not want basis.

IMPORTANT EXPENSES TO CONSIDER PRIOR TO SEPTEMBER

School fees School supplies

Text books

Pencils, pens, notebooks and papers, bags, folders.

Uniforms and other apparel, including shoes, socks, clips, ribbons, belts, badges, sports gears, etc.

Medical examinations.

DAILY BACK-TO-SCHOOL EXPENSES INCLUDE

Transportation

Meals – lunch and snacks

INCIDENTALS

Field trips

Extra lessons

Medical protection

School supplies (items not noted on the book list, may be overlooked by parents or teachers)

– Courtesy of the CAC