Starting school is exciting for children – but a major financial step for parents. Use these expert tips to manage costs while giving your child the best start.
School fees, supplies, uniforms and hidden costs can add up quickly, making early financial planning essential. Finance expert Natasha Vellieux from SPARK Schools, and executive head of financial planning at NMG Benefits Stian de Witt, say it all starts with a budget, which will help you to identify exactly where you can cut costs in other areas to accommodate for the best education you can afford for your kids.
“It’s never too early to start planning,” says Stian, who encourages parents to involve their children in the budgeting conversation early on, using a colourful and memorable system called The Three Piggy banks. Assign each piggy bank a colour and purpose:
- Red Piggy Bank – Save: This is where kids learn the value of saving for emergencies or special items.
- Green Piggy Bank – Spend: Everyday spending money, allowing kids to make small financial decisions.
- Orange Piggy Bank – Give: Money set aside to help others – whether it’s for a charity, someone in need, or their place of worship.
“This system helps children understand the basics of financial discipline, generosity and delayed gratification – skills that are invaluable in the long term,” says Stian.
Create a school-specific savings plan: Stian advises parents to include fees, uniforms, aftercare, transport, and stationery in their monthly budgets. “Putting even a small amount of money into a high-interest savings account will help when payments are due.”
Look for transparency, flexibility and partnership: Knowing what to expect financially can help you avoid surprises later on, so look for a school that’s open and upfront about its fee structures. Some schools offer monthly payment plans or discounts for paying in full at the start of the year. Another important consideration is a school’s willingness to ‘walk the journey’ with parents and scholars alike.
Shop smart for uniforms and supplies: School expenses go way beyond fees. Save by checking second-hand stores and exchanges, and online marketplaces for discounted supplies and ‘gently worn’ uniforms.
Prioritise quality, not just price: “A low-fee school may seem cheaper upfront, but you can’t put a price on the quality of the education your children receive,” says Natasha. “It’s long been perceived that private schools are the only way to go but they can be expensive. Some private school networks now offer this same high-quality education at a more accessible price.”
“In addition, the 21st century requires scholars to possess a mindset and skills for lifelong learning, empowering them to succeed in all aspects of their lives.”
Look for a school that offers
- Data-driven instruction that tracks each learner’s progress so that teachers can provide personalised and targeted support.
- Young, energetic teachers whose professional development is taken seriously and who are upskilling themselves in education innovations.
- A globally competitive curriculum. CAPS is the basis for most South African schools, but some also incorporate international benchmarks, offering data-driven instruction, evidence-based practices and personalised learning, and a focus on real-world workplace and emotional skills.
To wrap up, Natasha says: “Getting your child ready for Grade 1 is about more than enrolling at the closest school, or finding the right uniform. It’s about setting up healthy financial habits to help you consistently pay school fees for the next 12 years. By budgeting early and choosing a school that aligns with your financial situation and educational goals, you’re setting your child – and your wallet – up for long-term success.”
