Make your bonus count by investing in your child’s future

Parents should consider investing in their child’s future ahead of university by using their Christmas bonus to take care of the costly expenses. Picture: Freepik

Parents should consider investing in their child’s future ahead of university by using their Christmas bonus to take care of the costly expenses. Picture: Freepik

Published Dec 9, 2022

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How to get a head-start whilst waiting for matric results?

Mala Suriah, the CMO of Fundi, said that was the question that most parents will be asking themselves as the celebrations of the end of exams start and their children prepare for life after their final chapter of schooling.

Suriah said that besides addressing any outstanding debt issues with schools or other learning institutions, tertiary registration fees should be the first consideration that parents should try to plan for.

“Once-off registration fees often fall outside of bursaries or other funding that is available. This is the first contingency families should put in place wherever possible,” Suriah said.

The second priority relates to whether their child will be studying away from home and staying at or near a tertiary institution.

According to Suriah, the starting point for success often depends around accommodation so parents and their children need to do their research.

“A student’s accommodation must not just be a space where they feel safe and secure. It must also be a place that encourages their learning. There should be quiet spaces for example where they can study, as well as secure wifi readily available,” Suriah said.

Parents should also consider using some of their bonus towards purchasing the equipment their children will need to study effectively.

“Having a dependable laptop or similar device is essential for your child’s studies. If they’re able to go into the start of the year with the device they need to do research, take notes and submit assignments, it can make all the difference to how they perform from the outset.”

Suriah said that there were other options for parents who were unable to make as much use of their bonus towards their children’s education as hoped due to the tough financial times.

“By allocating a portion of this funding, they can perhaps secure a loan for the new year that can see their children through. There are many tried, tested and efficient solutions available and institutions,” Suriah said.

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