In case you haven’t been aware (although we highly doubt that you aren’t) the issue of University fees has been trending for almost a year. The youth of South Africa have taken a stand and it’s very clear that the ultimate goal is to get to a point where no one is paying the costly fees that come with going to University. Unfortunately, our financial state as a country doesn’t allow us to have free education on a tertiary level at the moment, which means that we all need to continue to save.
Education, although often obtained through having a certain level of finances, is something that you can’t really put a price tag on. This is of course based on the amount of knowledge and open doors that come with having gone to school. When thinking about the amount of money you have in comparison to the education needed to get your children the right education, it’s often not very encouraging. But this doesn’t have to be the case, because if you start now, the situation won’t seem so daunting.
Starting off with a game plan is always recommended because it’ll help break everything into manageable steps. The first step, is to research and see what type of education you want to give your children. Whether it be public schooling or private, you can really make it work if you start to put the necessary funds away little by little. This all depends on how old you children are though, because if you haven’t already started saving and they’re more than halfway through primary school you may have to save a bit more aggressively than if they’re still in pre-primary. Either way, it’s not too late because every single bit counts.
Looking into setting up a monthly debit order that goes straight into a savings account or putting your money into something like a unit trust, could really help to get you into the habit of saving. But what happens when you are no longer here? Although saving for your children’s future now is crucial, making sure that they are taken care of should something unexpected happen is even more important. At 1Life we are all bout securing you and your family’s future. By choosing to make one simple decision, you can change your family’s lives forever. Whether you want to secure your family through affordable life, dread disease, disability, funeral cover or one financial plan that combines all of this from us. And if you really want to understand your money and better figure out how it can work for you, then you’re in the right place because Truth About Money has just the tools for you. Your starter pack to financial freedom includes:
So you see, whether you’ve already started saving for your children’s education or not, it really isn’t too late. And you can educate yourself along the process as well, by making choices that will benefit everyone in the long run.