Johannesburg – With schools opening later than usual this year, most parents might fall into a false sense of financial security when it comes to buying their bundles of joy stuff for the year ahead.
Pupils will still rightfully expect to have new uniforms, stationery and other backto- school essentials and these need to be paid for.
Nozizwe Fakude, the head of customer insights at DirectAxis, says that by anticipating back-to-school expenses, parents can budget now and spread the costs rather than having to buy everything at once at the end of the month.
“It’s also worth considering that January will be a very long month for some families as many companies paid December salaries early, so the December pay cheque has to stretch further. Add to this the fact that this year bonuses will be smaller, if they’re paid at all.”
DirectAxis has the following suggestions to help manage back-to-school finances and avoid unnecessary expenses.
Avoid last-minute surprises: Before the uniform gets bundled into the wash and hung back in the cupboard, check to see if it’ll last another term. Do the same with shoes, school bag and inventory stationery. This ensures that you only buy what is really needed.
Make a list:
Studies show that people who shop without a list can spend up to 23% more. Find out from the school or other parents exactly what your child needs for next year and by when. They may not need everything in the first term.
Try to get as much detail as possible, so you don’t waste money buying the wrong things. Cross off the list anything you already have.
Set a budget:
Unless your child is just starting school or moving from primary to high school you should have some idea of what you spent the previous year. Alternatively, ask other parents what they typically spend. Once you’ve got a budget, stick to it. It may be a good idea to involve your child.
Score second-hand savings: Children can quickly grow out of jerseys and blazers. If the school has a second-hand shop, you may be able to find good quality second-hand items there.
Seek out savings:
Look for opportunities to save money. Some schools provide a discount on school fees if these are paid in a lump sum at the beginning of the year.
The same may apply to bus fares. If you are able, try to take advantage of these savings. The recent increase to level three lockdown gives you a good reason to shop online, where it is often easier to compare prices and you have access to discount vouchers.
Don’t be tricked by what’s trendy:
Children can be very brand conscious and may want something because it’s trendy and consequently more expensive, rather than because they need it. Many schools require children to have tablets or laptops and most children want top-end technology that comes at a price. Rather find out the specifications of what is required and what the equipment is being used for.
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