The importance of being financially prepared for your child's education
It is back to school in South Africa and some parents are worried about how they will afford to pay school fees for their children. Here is how you can plan better for the future.
Parents want their children to succeed in life. One way to ensure that happens is by giving them the opportunity to get a good education.
Children rely on their parents to provide them with their basic needs - and education is one of those needs.
However, far too many parents make the mistake of not planning for the future of their children when it comes to education. This is evident in the high number of children dropping out of school or tertiary institutions due to a lack of funds.
Not only do parents have to worry about paying fees, but there are other added costs such as stationery, textbooks, school trips etc.
With the many economic challenges that the country has been dealing with, it is wise to be financially prepared for your child’s schooling.
The perfect time to start investing in your child’s future is now.
READ: New financial services provider, FutureWise, pioneers education inclusion
Futurewise is a financial services provider aimed at ensuring that young minds and their aspirations are secured through education insurance.
It is the brainchild of Kagiso Tiso Holdings (KTH) and its partners. The insurance was developed to give parents a platform to invest in their children’s future by putting aside a monthly instalment towards their child’s education.
Futurewise is a product for life. Not only will it ensure that your child’s fees are taken care of, but also offers support in the case of retrenchment, death, disability, or terminal illness.
The insurance will pay an annual fixed amount for your child between the ages of 5 and 22.
In the case of retrenchment, Futurewise will waive your risk premiums for up to six months, with no impact to your cover.
Read more about their benefits here.
READ: Futurewise aims to end educational exclusion in South Africa
Secure your child’s future dreams no matter what. Send a voice note of them telling us what they dream of becoming one day and stand to win up to R5 000, thanks to Futurewise Education Insurance!
WhatsApp your voice notes to 061 792 9495, with the word #Wise, and your child’s name. Then stay tuned to Darren, Keri & Sky to find out if you won.
More info on ecr.co.za
Ts, Cs and standard rates apply.