Have no back-to-school hassles in the new year

THE year is drawing to a close and before you know it we will be back to the hustle and bustle of things again in the new year and quite often, many people incur costs that they never prepare for, especially parents with school-going children.

Marlies Kappers of DirectAxis Financial Services says people, especially parents, should do their homework and have plans in place to kick-start the new year, without financial problems.

Klappers said people can avoid unnecessary expenditure and limit some of the financial stress in the beginning of a new school year.

She said it’s not just getting everyone up, fed, dressed and out of the door on time.

Preparing to go back to school can be costly and for many families, January is the worst time for additional expenses.

“Most of the people we spoke to agreed that planning ahead, putting some money aside for unexpected expenses and spreading costs where possible and getting children what they need for school, rather than what they want, are the best ways of limiting back-to-school financial stress,” Kappers said.

Kappers has suggested tips that people can follow in order to ease off the stress during the beginning of the year. The tips are as follows:

Start when school ends: Before the school shoes get kicked under the bed for the holidays check to see if they’ve got another term in them. It’s probably a good idea to do this with the entire uniform, school bag, stationery and any other essentials.

Gather (reliable) information: Find out what your child actually needs for the next year in terms of stationery, maths sets, book covers and the like. Ask if there is a list of requirements for that grade. If not, speak to the school, parents with children in the next grade or teachers.

Don’t be tricked into expensive tech: Today many schools require that children have some sort of device, such as a tablet or a laptop. Just as most children will have a preference for the brand of shoes they want – often the most expensive – so they’ll probably want top-end technology.

Eliminate the element of surprise: Unless your child is just starting school or moving from primary to high school, you should have a reasonable idea of what it costs to equip them for the following year. Consider this in your basic budget, then add the cost of anything that needs replacing such as shirts or shoes.

“Remember to plan for unexpected expenses or costs such as bus fares, which can only be paid once the new term starts and ring-fence the money so you’re not tempted to spend it over December. That way you’ll have a much happier start to the New Year,” Kappers added.

For more information about how to manage your household income visit: https://www.directaxis.co.za/make-a-plan/avoid-the-debt-trap.