As human’s we are motivated by two things – pain or pleasure. Imagine the pain of not being able to provide for your child’s education or having to get into debt to pay for their education.
Rather side step this image and imagine the pleasure of being able to comfortably afford all your children’s education costs. Use this positive image to inspire you to take meaningful action.
Having a laser-like focus on the successful image of your child attending the schools and universities of your choice will enable you to make the necessary lifestyle changes to enable you to invest for their future.
We all want to provide more for our children than what we had. We are all becoming more and more aware of the ever-escalating costs of education. Historically education costs increase about +/- 10% per annum. Often this is at a more rapid pace than our salaries.
The cost of private schools
If you want your child to go to a private school and university to do a three-year degree. You will need to invest in the region of +/- R 4 200 per month when your child is born, you will also need to increase this premium with education inflation each year.
The cost of public schools
If you want your child to go to a public school and university to do a three-year degree. You will need to invest in the region of +/- R 1 800 per month when your child is born and you will also need to increase this premium with education inflation each year.
The above monthly investment values will vary depending on the actual costs of your chosen schools.
Leaving it for another day is not going to help. It is best to become aware of what is required, set a financial goal and take action to lay the foundation today for your children’s education.
We at JHA can assist you to determine your needs, set and determine your goals and take the positive action to achieve them.
In general, we have been programed into a “monthly payment mindset” trap. We live a lifestyle determined by the level of debt we can service on a monthly basis – paying now for the lifestyle we have led in the past.
We will assist you to change to a new habit of paying yourself first each month by setting up a monthly payment into a flexible investment to create the wealth needed to provide the education you want for your children, paying now to provide for your children’s future.