Did you know that the typical university degree in South Africa currently costs about R50000 a year. and by the time the royal baby turns 18 this would have ballooned to the princely sum of about R1million for a four-year degree? Suffice to say, the funds involved can be overwhelming, especially to new parents who are probably sleep deprived, emotional and deeply immersed in other fundamental questions like who to name as guardian, how to update a will, change medical aid and life and disability cover.
It’s all about breaking big goals into smaller goals that seem far more achievable. If I told you that you’ll need R1m in total to provide for your child’s tertiary fees, you’ll need a restorative cup of tea, as the queen might say. If I told you you’ll need R1200 a month, suddenly this seems much more doable.
So what are the steps?