Hidden school costsHave you factored extramural and uniforms into your education budget?
articles hidden school costs

With the excitement of 2019 looming and the start of the first year of school, I’m sure you’ve been thinking of the costs involved in sending your child to school. With your budget tool close at hand, you’re financially ready, or so you think.

Most primary schools offer the below subjects:

  • English, Afrikaans and isiXhosa
  • Mathematics
  • Natural Science
  • Social Sciences
  • Economic Management Science
  • Technology in various forms: Needlework, Woodwork, Information Technology
  • Arts and Culture: Class music, Drama and Art
  • Life Skills: Physical Education, Personal and Social Wellbeing

The above list looks pretty standard so what possible costs could come from the above? Well you’d need school note books and stationery, art supplies, physical education togs, needlework or woodwork supplies

Proposed costs:

1. School fees per year of public school: R37 700

2. Extra costs for one year:

  • School uniform – summer and winter: R4000
  • Musical instrument: R1000
  • Art supplies for art class: R1000
  • Aftercare for the year: R2400
  • Extra murals like karate, soccer, dance - R450.00 per extra mural per term: R1800
  • Transport to and from school (for 42 weeks): R8400
  • Excursions (R50 per term): R200
  • Total: R18 800

3. Final costs for the year: R37 700+ R18 800 = R55 800

Those numbers are quite a shock to the system! Are you prepared for that? If you’d like advice on how to save, why not speak to a financial adviser today.

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Copyright Old Mutual Limited 2020
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Old Mutual Limited (OML) is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets in 14 countries.
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