The cost of putting just one child through the UK’s state school system has risen by more than £6,000 in the last few years, with the average amount now £22,500 according to research. For anyone sending their children to private school this figure can come to almost ten times the amount.
Nobody wants to scrimp on their child’s education but there are a number of places where you can cut the costs without negatively affecting their learning. Whether you’ve got a new born baby or your first child is just starting primary school, any time is good to begin saving.
Save money on any school books that need purchasing by buying second hand online rather than brand new, where possible. For young children in the first stages of reading visiting the local library is a great option as it is free to borrow all sorts of books, from educational ones to stories suitable for young and older children.
Some schools now require pupils to have an iPad or other tablet for educational purposes. This can be an expensive cost so saving in advance is advised, or again seeking a refurbished used model is a cost-effective choice.
When children move into secondary school there will likely be at least one or two educational trips offered to them, usually to Europe that they won’t want to miss. You can’t negotiate the price set by the school but you can on other aspects.
Depending on the age of your child and your financial situation you could encourage them to get a paper round to help fund the trip. Or talk with the school about having a fund raiser or making the most of promotions on offer. In the meantime saving on school lunches by switching supermarkets or through other means could help.
Whether your child chooses to carry on their education at university, gets a job or takes a gap year to decide, it is worth saving to help cover any costs these will bring up. Consider starting a savings account and benefit from their interest levels.
The earlier you start putting money in the more you can save. Then after a few years the funds can be used for everything from university equipment to covering the flight costs for a gap year. It could be presented as a birthday gift with specifics to use for educational purposes or as just a helping hand.