Along with the inflationary trend, every year the cost of education increases. For parents who face it, of course, any effort will be made so that children get the maximum education for their future. What is the best way to prepare our children's education fund? Here are 5 tips for saving education costs:
1. Decide on the level of education that you want to set up funding for.
Every family has their own priorities for education. If you want all levels of education in the private sector, then all levels need to be identified, starting from kindergarten, elementary school, junior high school, high school, and college. Don't forget to prepare some backup plans for these school choices, so that if there are obstacles when starting school, there is always an alternative replacement.
2. Collect all data for education costs
Once you have decided which school to choose, collect all the data on the costs required to enter the school. Usually, in addition to the monthly tuition fee, there is a tuition fee when you first enter the school, activity fees and book fees that need to be paid every new school year and there are also additional voluntary donations, as well as fees to develop children's interests and talents.
3. Recognize that education inflation is real
Central Bureau of Statistics Data for Inflation in June 2024, the education group experienced an increase of 1.69% y-o-y. In fact, if we diligently compare the tuition fees of several public universities, we can even measure the tuition inflation of each campus.
4. Prepare an education fund budget
After collect all the information about the total cost for each school level, consider education inflation based on the start time of your child's education. Without considering this, the calculated costs may change. For example, if your child is currently 2 years old and will start playgroup next year, followed by kindergarten, elementary school, middle school, high school, and college at a favorite university, it is important to calculate the total time required so that the cost after inflation can be identified.
All of the above education fund budgets are plans that are expected to run smoothly. However, family finances don't always go as planned. Stay focused and disciplined in allocating your income for your child's education fund.
This education fund preparation activity needs to be accompanied by regular financial evaluations. If there is a deviation from what has been planned, do a review and adjustment so that the initial target that has been planned can be achieved on time. With detailed planning and regular evaluation, we can avoid the debt trap when our children start school. The future belongs to those who prepare today.
Source : mediakeuangan.kemenkeu.go.id
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