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Budgeting For a Child’s School Expenses

June 7, 2013

Budgeting For a Child’s School Expenses

 

by Edmund Lao, RFP

The month of June has come already. This only means two things: that summer is gone and time for students to go back to school.
 
Aside from tuition fees which escalate yearly, every parent has to shell out more money for additional school expenses. Most of the times, tuition fees cost less than the additional expenses for the students and the sad fact is that these kinds of expenses are hardly noticed.
 
Enumerated below are the additional expenses that are incurred per student.
1.     Allowance for transportation
2.     Allowance for food/snack
3.     Cost of hiring a tutor
4.     Field trips
5.     Class projects
6.     Cost of Yaya
 

Let us take the cost of transportation as an example. In my child’s school (which was my alma mater when I was a student), the mode of transportation is tricycle. Thecost for round trip is Php 50 per day.. In a month, this is equivalent to Php 250 a week. By computing it on a per semester basis, it is Php 5000. 

 

Back To School !!! (165920274)
Back To School, Wikimedia Commons

 

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