Expense solution plan for money shortage in the new semester!

The parental spending category is one of the highest expenses in monthly expenses for every family. Unplanning may result in a money shortage for parents. Here is the solution which helps you categorize the new semester expense for your child.

1. Fixed-semester expense

This is an expected and easily-to-manage category because it is a monthly or semester basis and including nearly the same items in every semester which are as below,

  •    Tuition fee

  •    Books and necessary items for the new semester

  •    Daily traveling expense or shuttle transportation to/from school fee per semester 

  •    Pocket money

  •    Dormitory fee

  •    Extra-tuition fee

As you can see that these are expected expenses that can be planned by fixed cost technique which is you have to sum up all these costs then divide by that semester months quantity and you will get a monthly payment. For example, a summary is 22,500 Baht per semester and 1 semester is approximately 4 and a half months which means you need to save 5,000 Baht per month for your kids’ education.

2. Non-fixed semester expense

This is not an every-semester expense but can be planned that how much it will be. Mostly is relating to educational plan and kid growing size at each age.

  • General school uniform which has to be changed relating to child body such as getting fatter, skinnier or growing up
  • Special school uniforms such as a scout uniform, a specific sports uniform such as Judo suit
  • Training transportation cost for a university degree

This expense category is based on your kid education plan that you need to know what you need to pay for extra at least 1 - 2 semesters in advance also knowing how your child's body change and is it necessary to buy a new one or not? The most important is to talk to your children to plan this budget. 

3. An unexpected expense

This expense is more difficult to manage than other above due to most of them is a sudden cause which your kid may not know about it and how much money you need to pay.

  •  School additional fee

  •  Parental association fee

  •  Ex-student association fee

  •  Field trip fee

  •  Boy scout fee

  • School sport day fee

  • Special or extra activities fee such as Teacher Day pedestal tray cost or special day activities whether Father day, Mother's Day, Christmas, etc.

Some of these expenses maybe just a hundred or can be negotiated but eventually, a summary will be a big money and can be a parental problem. To manage this expense category is to reserve some money for the next semester. For example, reserve 10,000 Baht for this advance expense.

New semester expense management may be chaos but do not worry because it is not too difficult to manage. If there is an emergency, you can request a loan at Personal Speedy Loan in advance and it is easy to apply without any guaranteed person and a long 12 - 72 months installment plan. Interesting? You can contact any SCB branch or apply via SCB EASY application. For more information and online registration, click https://www.scb.co.th/th/personal-banking/loans/personal-loans/speedy-loan/apply-form.html