A friend sms’d me “I just finished reading your book and the first thing I have done is to move from full DSTV to compact DSTV subscription. I have saved myself about R300 monthly. Let’s chat about how I can put the savings for my son’s university fees”. Her son is just 6 years old so I am very proud that the mother is already thinking about university fees for him.

It is now tradition, we start each year with university students toyi toying about fees. Yes, some of the kids really come from families where parents have no jobs, are in poor paying jobs or they have no parents so there is no money to further their studies. Yet others come from families where parents make decisions that are not good for their children. These are just some of the decisions we as parents must reverse;

  1. You pay R599 for a DSTV subscription monthly yet you have zero savings for your children’s post matric education
  2. You buy a blackberry or an i-phone for your child and have zero savings for his / her post matric education
  3. You pay a clothing shop R500 monthly yet you have zero savings for your children’s fees
  4. You drive an expensive car yet you have zero savings for your kids’ education

As I do workshops in companies around the country; I often ask those who have school going children to put up their hands. While their hands are up, I ask if they are comfortable that when their kids finish matric, they will be able to send them to university. Sadly some parents put their hands down as they are not saving for their children’s university education. As I probe further and look at their budgets, I find that some pay for DSTV, others pay a lot of money just for clothes, etc…When I ask why they are not canceling the DSTV and use the money to save for higher education, most sound like they couldn’t go through a day without DSTV. I have to ask the question, since when did DSTV become a basic need? In fact, our kids would do much better at school if we limited the amount of time they spent watching TV. Also, they would be very motivated to work hard if they knew we are saving for their university education.

If you know someone who is wasting money and not saving for the post matric education of their children, please forward this email to them. If you are such a parent, please write to me and tell me why you are putting your kids’ future in jeopardy for a TV or cellphone or clothes or car. If you believe I’m missing a point, I would love to hear from you too.

Please read chapter 13 on page 182 of the book From Debt to Riches: Steps to financial success:  Will you be able to send your kids to university? You will find out how just R200 monthly could make a difference between whether you will be able to send your kids to varsity or not.

DID YOU KNOW?

If you have a baby born in 2014, you have to save about R500 monthly ASAP so that you have enough money in 19 years’ time to send them to university. This will only pay for tuition fees. Email me at phumelele@thuthuka-sa.co.za if you want me to help you save for the university education of your children.

Warm regards

Phume