Students gather at the Sangster's Book Store booth in April. The occasion was day two of the Gleaner Company's Youthlink magazine's CXC seminar in Montego Bay, St. James. - Photo by Claudine Housen
How soon should budgeting begin?
For parents with children who will be going to school for the first time, as well as those who will start a new grade in the upcoming school term, budgeting should begin at least two to three months prior to the new term or as soon as the last term ends.
The reason for this is, everything the child needs to start school will take money. Parents have to spend some time to analyse their financial situation to determine where to source the funds to finance these needs or where to source the items themselves to minimise expenses, and therefore save.
How will parents and caregivers know what to plan and budget for?
Normally, when a child registers at a new school, the parents are normally supplied with a booklist as well as a list of other needed supplies, including the style (fabric type and colour) and accessories needed for the school uniform, for example, ties, belts, badges, etc; gears for physical education. Also, parents are informed of the amount to be paid for school fees as well as the due date and where to pay it.
Notation is usually made on these lists of what is available at the school, on sale, on rental, or at no cost to the parent. Parents are encouraged to develop a close relationship with the school's guidance counsellor or principal, and to ask a lot of questions, especially when things are not expressly stated or outlined in any document provided by the child's school.
Usually, if the parent expresses any difficulty meeting any of the child's school expenses, school officials will offer advice as to what avenues are available to them to ease their financial burdens, whether by the school itself or by the Government.
- Source: Consumer Affairs Commission
