Do You Know How Much Your Child’s Education is Likely to Cost?
No one ever said parenting would be easy, but some of us may be shocked to discover just how much our little darlings are likely to cost us to give them an education. The ASG Planning for Education Index shows that for a child born in 2016 the forecast cost of a private education will range between $360,044 and $552,351 depending on the state you live in metropolitan Australia. Even the cost of sending your child to a government school may surprise you, with the forecast national metropolitan average cost sitting at a whopping $66,862 (with Melbourne parents looking at a 12 per cent increase on this figure bringing it to $75,193!) And that’s just one child!
It seems crazy, but when you think about it the costs add up it isn’t just yearly school fees that have to be taken into account. There are also additional costs that crop up year round, such as uniforms, camps, computers, textbooks, stationery, music and sports equipment and excursions, and the list goes on, doesn’t?
There is no need to lie awake at night worrying about it. To make a head start to plan ahead so your child has a great start to life, first, you simply need to decide on what’s important for your child’s education. Ask yourself; what type of school does your child need? What social and emotional support is available? What extracurricular activities would my child benefit from? Once you have these answers, you then need to consider the costs.
To help, ASG has an Education Cost Calculator on their website that can help parents understand what to expect.
ASG’s education funds offer a simple and effective approach to prepare for the costs of your child’s education. You can choose from flexible or structured savings plans to suit your personal preference.
ASG has been providing financial products and education resources to help families prepare for their children’s education for more than 40 years. In that time they have supported 520,000 children, and have returned more than $2.3 billion in education benefits and scholarship payments to members and their children.
The great thing about ASG’s education funds, is that they qualify as scholarship plans under Australian law, so they are a tax effective way of saving, and you can start from as little as $2 a day.
In addition, ASG also provides their members with a range of parenting information, educational resources, special offers and discounts to support you through your child’s school, and university years.
For more information Call 131 ASG (131 274) or visit ASG.com.au to find out more and review the Product Disclosure Statement.
Disclaimer: Remember that making a financial investment is an important decision. Please read the Product Disclosure Statement (PDS) for the relevant education fund to determine if the fund is right for you – available at asg.com.au/pds or call 131 ASG (131 274) and we will forward a copy to you.