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Dołączył: 30 Gru 2010
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Wysłany: Wto 12:04, 22 Lut 2011 Temat postu: Bell&Ross Famous Luxury Watches,Discount Wholesale |
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Durban-based estate agent Kim Woods said young couples planning to start a mily or with a newborn baby often looked for bigger home.
The total fees for a primary school education, from grade R to grade 7,[link widoczny dla zalogowanych], amount to about R57198 at a government school and R284615 at a private institution;
Parents will have to fork out about R300000 in medical bills for a child born this year up until the age of 18.
The research by Sanlam, Old Mutual, Discovery Health and Metropolitan Life reveals that child-rearing costs have soared since 2007. But the financial planners and researchers said these figures reflected middle- and higher-income parents.
A young mily earning a combined monthly income of R10000 would have to invest R1400 a month to afford their childrens projected R650000 education bill, from nursery school to tertiary level.
"A R2-million-a-year household can expect to pay a lot more," he said. "The higher the income the higher the expenses."
The cost of raising a child varies enormously, depending on ones income, in what part of the country the child is raised, where it is educated and a slew of other ctors.
"Consider the costs of extra-curricular activitieYour little dear will be very dear 1Low price Lus … and cellphones and other gadgets which are almost a norm today. These all cost money," said Sylvia Walker, Old Mutuals market development manager.
Economist Tony Twine said a middle-income household with a R500000 annual income could expect to pay R2.5-million to raise a child.
Parents with a newborn baby need to save at least R2800 a month if they intend for their child to pursue a medical or engineering degree, which would cost more than R1.2-million; and
"They have created a lifestyle that has now become unaffordable … and have not taken into account the long-term costs of raising children," he said.
Danelle van Heerde, who heads Sanlams personal finance division, said: "Our figures show that education tops the list of saving priorities for low- to middle-income earners,Famous Luxury Watches while high earners see the cost as just a monthly expense."
Though not as steep, the figures for lower-income milies are just as unsettling.
Three milies with varying incomes tell SUBASHNI NAIDOO how
A monthly saving of about R1516 would fund a childs entire school education – from grade R to 12 – in a government school and R7100 a month for private school education;
But even high-income earners battle to save for their children.
High school will set parents back about R86997 at a government school and R390000 at a private school;
"Its the biggest tragedy when we see parents earning a combined income of more than R100000 a month struggling to set aside R5000 for school fees," said Asogan Naicker, a director of a financial advisory consultancy.
She said financial planners excluded in their calculations the cost of a pram, car seat, baby formula, crib, nappy creams,[link widoczny dla zalogowanych], dummies and designer jeans once the kids were readLow price Luxury Watchy for school.
From birth to the school-going age of seven, parents ought to save about R601 a month for primary school education at a government school. Monthly savings for a private school education amount to about R2992;
"Most new parents,[link widoczny dla zalogowanych]," said Twine, "are unaware of the long-term costs of raising a child. They are incapable of budgeting for a whole year,[link widoczny dla zalogowanych], let alone 20 years."
The astounding figure includes medical aid expenses.
The latest statistics from the financial institutions also revealed that:
The latest house price index compiled by Absa puts the price of an average middle-class home at R966500, compared withR1.4-million for a larger upmarket home.
Thinking of starting a mily? Then brace yourself. Studies by four financial institutions show that it will cost R3.5-million to watch over,[link widoczny dla zalogowanych], feed, educate and house a child from birth to the age of 18.
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