Category: News Blog
Published on Thursday, 20 April 2017 09:13
Here is a rather good media release issued by Bank Windhoek detailing what parents can expect following the announcement that government is to cut available subsidies to schools:
With government budgetary cuts now affecting secondary schools, parents will need to tighten their belts even further to ensure their children receive a good education.
The Ministry of Education recently announced in their budget vote that the N$500 subsidy for secondary schools will be reduced to N$250 per learner in the 2017/18 financial year.
The Education Ministry further indicated that at primary school level, where the ministry previously allocated N$350 per learner, only N$250 will be spent per learner through the new budget.
“These cuts will inevitably be passed on to parents, who will have to increase this specific budgetary item in their household budget,” said Riaan van Rooyen, Head of Corporate Communications, Strategy and Sustainability at Bank Windhoek.
“Parents will have to look at cutting expenses at home as well as in their daily lives to accommodate the subsidy cuts. To identify these cuts, it is important to focus on necessities. Think about that lunch and coffee you buy at work. Could you not perhaps save by bringing your coffee and lunch to work? Also preparing lunch or snacks for children going to school instead of giving them money to buy from their tuck-shop.”
“Another solution to save for your child’s future and ensure they get the best education would be to open a savings account especially for that purpose.” Van Rooyen notes that Bank Windhoek offers various savings products especially tailored to create a savings culture.
Van Rooyen said further: “Not sure how much you can afford to save? Start small – maybe just putting your change each week into a jar. If that works, try setting aside a bit more on a regular basis. Be realistic – it’s better to commit to a smaller sum you’re confident you can manage than a bigger amount that you give up on.”
If there is one thing we can expect, it is the unexpected, so better to start saving now, than wait for the unexpected to happen,” Van Rooyen concluded.