Preparing children for future

Preparing children for the future requires building confidence, independence and resilience alongside managing educational costs, says a mother following a financial education event.

Khanyisile Tsiane said she wants her daughter to grow into someone who is confident, independent and resilient – a child who can choose her own path and have the opportunities to pursue it. “I would like to ensure that she is whole and not only an academic achiever but confident, independent and resilient,” Tsiane said.

Her approach reflects a broader challenge facing parents: how to plan for a child’s entire future when the costs of education continue well beyond tuition. The issue was explored at First National Bank’s (FNB) inaugural Beyond School Fees event, held at the Wits Digital Dome on September 30. A panel discussion with industry experts considered how families can look beyond school fees and plan for the broader financial and personal needs of children as they move through their education and into adulthood.

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Matthew Green, product portfolio manager at FNB Life Insurance, said preparing children for their futures means creating opportunities for them to realise their potential, gain skills and enter adulthood with greater choice, confidence and financial freedom. “Education is one of the most important enablers of future opportunity,” Green said.

Research from FNB shows that education remains one of the most protected household expenses for South African families, second only to housing. Parents are often willing to cut back on discretionary spending before reducing what they spend on their children’s education.

Green said there is a gap between how committed parents are to education and how they plan for its full cost. Many families rely heavily on salaries, bonuses and general savings, while some start planning too late, do not look far enough ahead or underestimate how costs change as children move through different stages of education.

Expenses are not limited to fees. Transport, technology, uniforms, activities, sport, school trips and, later, accommodation and living expenses can all become part of the journey. Tsiane has already begun thinking about those expenses, particularly the opportunities her daughter may discover as she grows. “Whether it’s sport, music, art or something I haven’t thought of, I want to be able to provide for her when her interests emerge,” she said. She began thinking seriously about education costs during her pregnancy, although she believes even that was not early enough. Planning ahead has also meant making sacrifices elsewhere so she can put more towards her daughter’s future.

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For Green, this illustrates why education planning should be viewed as a long-term journey rather than an annual school-fee commitment. Families should ideally start planning before children enter school and revisit their plans at major transition points, including primary school, high school and tertiary education. “Start with what you can control,” Green said. “Understand the likely costs, break the journey into manageable steps, start planning or saving today, and seek guidance where necessary.”

For Tsiane, the goal is not simply to give her daughter a good education, but to give her choices. “I want her to have options,” she said. “I want her to be able to work anywhere in the world, without being limited by her gender, or her circumstances.”

She also hopes her daughter will leave school with more than academic qualifications – including future-ready skills, financial literacy and the confidence to walk into any room. For other parents who may feel overwhelmed by the costs, her advice is simple. “Start small and start now,” she said. “A modest monthly amount adds up over time, and you don’t have to solve everything at once.”

Green echoed the importance of consistency, pointing to three principles for families: start early, plan for more than fees, and build resilience into the plan so that education funding can continue if circumstances or income change.

Ultimately, he said, the conversation needs to move beyond how families will pay for the next school year to how they can support their children throughout their education journey and into adulthood.

Neo Phashe 3 minutes read Facebook X LinkedIn Tumblr Pinterest WhatsApp Telegram Share via Email Print Support local journalism Add The Citizen as a preferred source to see more from Northcliff Melville Times in Google News and Top Stories.