The start of the new year is when many re-examine their education budget and ready their finances. But with the back-to-school period a busy and often stressful time, it can be worth considering one’s options ahead of time.
The first tip when it comes to paying for your children’s education is by working fees into your monthly budget, if you are fortunate enough to have a set monthly income. If not, you could use any annual bonus or savings to pay school fees upfront – the advantage of this is that many schools offer a discount to those who pay in advance. However, an important thing to note is that this discount should not entice you to borrow money to receive it.
Another appealing factor of this option is that the policy may be taken out with your child as the policy owner, which is beneficial in the event of a divorce and would mean that this asset will be kept out of accrual and will thus not be touched. Another tip is to make a comprehensive list before you shop for supplies, and to prioritise between wants and need.
There should'nt have to be any extra cost to educate children,why it has to be like that maar?eish this world!
we know how ,you dont have to tell us
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