The start of the new year means that South African parents as well as guardians are facing the financial reality of preparing their children for the start of the school year and with many family budgets already over-stretched, the extra expenses can be overwhelming.
The price of fees, uniforms, textbooks, and stationery, among other items quickly adds up. These costs are compounded by the additional costs for sporting equipment, tech, transport, class outings, and extra lessons.
Old Mutual Group research shows that putting a child through the public school system in 2023 cost around R651,313 while the average cost of private schooling cost R1,901,549.
Overall, education was 6.3% more expensive in 2024 than in 2023, according to Statistics South Africa which exceeded the 5.7% annual increase in 2023. These annual increases in school fees add to the financial burden that parents are faced with.
Sarah Nicholson, operations manager, JustMoney.co.za said: "The high cost of schooling can be tough for many families, but it’s important to remember that education is one of the best investments you can make in your child’s future."
"Planning, prioritising, and creativity can help you start the school year right, and set your child up to succeed, without breaking the bank."
Here are some practical tips to lighten the load
- Have a plan: Write down everything your child needs and ensure that you prioritise the essentials to avoid unnecessary expenses.
- Compare prices: Shop around at different retailers for school supplies and take advantage of deals, discounts as well as rewards and loyalty programmes.
- Check second-hand stores and online platforms: Look for books, uniforms, and sports equipment that are still in good condition. If your child has outgrown school uniforms and other necessities then sell or swap these items.
- Label everything: Personalise all school supplies and uniforms to reduce the risk of items getting lost or stolen.
- Technology needs: Source tech items from retailers that are offering learner discounts, or consider a bulk buy with other parents. Avoid overinvesting in tech your child does not require immediately, as devices rapidly become outdated.
- Keep receipts: Track all school-related expense because knowing where your money goes will help you budget accurately.
- Budget for fees: Many schools offer parents the option to spread payments over the year, which can ease financial strain. Research any bursaries, scholarships, or fee exemptions offered by the school or local organisations.
- Assess extra-curricular activities: Choose extra-curricular activities wisely and limit participation to what suits your budget.
- Monitor subscriptions: If your child has been making use of educational apps or tools, evaluate their usefulness and then cancel subscriptions if no longer add value.
- Use free resources: Check online platforms for educational materials and support, instead of spending money on expensive learning tools.
- Communicate with teachers: Discuss with teachers any specific requirements or extra help you may need for your child. This will allow you to factor in costs for additional lessons or counselling.
- Save on transport: Consider carpooling with other parents or look into safe and affordable private or public transport.
- Organise lunchboxes: Plan and make simple, nutritious meals at home instead of relying on tuck-shop items. Buying food in bulk and preparing snacks in advance can help parents save money.
- Savings fund: Start a small savings plan for any future school costs. You can save a small amount each month to reduce pressure next year.
- Plan for emergencies: Put aside a little extra money for unexpected costs like last-minute projects or sports equipment to avoid dipping into your monthly budget.
"Being organised, exploring cost-saving options, and seeking support where needed will set your family up for a smoother start to the school year. Remember, small steps can make a big difference," Nicholson said.
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