How to Save Money on School Costs in 2024

Raising kids is expensive. You may have bought stationery, uniforms, and all the other items needed to get going in 2024, but costs will keep mounting throughout the year.

Save where you can by making small changes. Scroll down to find out how you can save costs when it comes to schooling in 2024:

1. Buy and sell second-hand as far as possible

Kids outgrow their clothes quickly, so you may find you have school uniforms still in excellent condition but simply too small. If your child’s school has a secondhand shop, you can sell your unwanted items while also buying from the shop, saving you money. If there isn’t a secondhand shop, join your school’s Facebook group and see if any other parents are willing to sell used items. Or offer your items on Facebook Marketplace. This is an easy way to save money, and big-ticket items like blazers and jerseys can be passed down for years and still look good.

2. Buy school items throughout the year

By planning, you can avoid a cash flow crisis next January when you need to stock up on school supplies. Buy stationery and other items throughout the year when you have extra cash. You can also take advantage of any available discounts or special offers.

3. Set up a school emergency fund

Unexpected expenses will crop up throughout the year, and you may not always have spare cash lying around. Start a small “school emergency fund” and save a set amount each month. I’m a big fan of bank accounts offering several savings pockets at no extra charge. This allows you to save for different reasons while keeping it simple and effective. Even if you only save R100 a month, it will build up and come in handy if an unexpected school expense arises.

4. Label everything well

This may sound like a no-brainer, but labeling your child’s clothing and school supplies reduces the likelihood that they will go missing permanently, leading to expensive replacements.

5. Plan and pack your children’s lunch meals

Packing your own school lunches is far cheaper than giving your child money to buy lunch at the tuck shop. It may also be far healthier, as you can control their eating. Plan your lunchboxes and shop accordingly, so you don’t run out of an item. Buy in bulk if there’s a sale. Avoid buying costly pre-packed items like small yogurt pots, juices, or snack-size packs of biscuits. Rather, buy a large yogurt container and decant it into smaller containers, make your own trail mix, and bake homemade muffins and freeze.

6. Save on petrol

If your daily school run is leaving you with mounting petrol costs, investigate whether there are parents in your area who would be willing to start a lift club with you. Or find out if there is anyone offering school transport in your area; this may work out cheaper in the long run and be less stressful for you if you’re fighting rush hour traffic while trying to get to work at the same time.

7. Keeping up with the Kardashian’s (or Motsepe’s)

Children face a host of societal pressures, including those at school. Your child will interact with other children from all walks of life, including those from wealthier families. This can create expectations for certain things, such as expensive holiday trips or even extra murals. Instead of incurring debt to keep up, be open and honest with your child about your family’s finances and what you can afford.

Also use it as an opportunity to explain that the world is full of different people, some with more, some with less, and then no one is better or worse than anyone else because of what they can afford.

I wish you a blessed and successful 2024, and may your kids thrive!

This article was written by Sylvia Walker, financial planner, speaker, and author of smartwoman. www.sylviawalker.co.za