It’s that time of the month again and Remy looks visibly worried. He is increasingly running out of options and was tired of hiding from some people. Ironically he is about to add more people at to that dreaded list of lenders.

This time, his Children’s school fees was about N2million per term and he had just N50, 000 left from his prior month’s salary. Now that he had run out of options on who to run to for more cash, he was now contemplating getting a bank loan to finance his children’s school fees.

Pulling them out of that school and telling the kids he cant afford it was also not an option. He had to keep up that lifestyle as he thought his status in society was very important in addition to his genuine quest to have his kids obtain the best education they possibly can get. If borrowing is what it takes then borrowing he must embark on.

Should this be the right approach? Must we continue to live from hand to mouth despite the harsh economic environment we find ourselves in? Before you decide to live like Remy, why not consider these options.

Budget

I have always reiterated the importance of having a family budget prepared on a Monthly basis. Budgets if nothing, gives you an insight into your household income and the likely expenses that will match it. Every single naira that you earn must have a mission. Without budgets it is easy to think that you have the money only to find out later that you have to borrow to augment.

Cut your coat to your cloth

If your Children school fees per term is more than 50% of your monthly take home pay, then you have basically set the stage for hardship and borrowing. For example, a family that earns a combined N500, 000 per month will need to save N75, 000 every month to pay for a N225,000 per term school fees per term. Anything above this is a recipe for incessant borrowing.

Not for everyone

Nearly every average working class family will like to have their children attend the best schools in the world. Harvard or Princeton for example, cost over $30,000 per annum for tuition taking it out of the reach of most families. This is why there are other options for students who cannot afford to pay for an Ivy League school. Luckily there is no written rule that says students who end up not going to an Ivy League school cannot perform better in their careers. This is so with some of the local schools we have in Nigeria. Rather than whine about not being able to afford a better looking school for your kids efforts should be made at putting them in the next best school that you can afford

Work even harder

Big dreams hardly die so if you still want your ward to go to that big school then you have to work really hard for it. Put in more efforts at your job making sure that it never goes unnoticed. Soon enough, you will be promoted and paid a higher salary. If that doesn’t happen, then seek employment elsewhere that can pay you better.

Seek alternative income


Why not explore other means of augmenting your salary? If you are good at trading then you can have a buy and sell business by the side, which can help fund the school of your dreams for your children. Besides, alternative income helps increase the amount you can throw on school fees when you earn more.
more on.... http://nairametrics.com/how-to-avoid-borrowing-to-pay-school-fees/

ftc dedicate it to jarus kingtom.jacksparrow

If this thing make FP, I go propose marriage to Misssclassy

OK...I get

thank God, kingtom is finally thinking of marriage!!!

KingTom:
If this thing make FP, I go propose marriage to Misssclassy

ok good news
i will provide the italian suit and the french gown for the day. lol

and i will provide d private ship

I took note!

KingTom:
If this thing make FP, I go propose marriage to Misssclassy

Tomfrench:
OK...I get
thank God, kingtom is finally thinking of marriage!!!

I am married

robosky02:

ok good news i will provide the italian suit and the french gown for the day. lol

.

RobinHez:
I took note!

Yes o

KingTom:


I am married

cool...who's the lucky chick

calculator123:
ftc dedicate it to jarus kingtom.jacksparrow

Thanks boss. Let me know when your ftc ministry moves to permanent site

Jarus:


Thanks boss. Let me know when your ftc ministry moves to permanent site

ok ooo

Tomfrench:
cool...who's the lucky chick

Tomfrench's Sister

KingTom:

Tomfrench's Sister

hian...whose my sister

Tomfrench:
hian...whose my sister

You tell me

KingTom:
You tell me

she is Angieberry ...so, how did it happen

Tomfrench:
she is Angieberry ...so, how did it happen

Oh My Gaaaawwwd

KingTom:
Oh My Gaaaawwwd

....na play o...

Tomfrench:
....na play o...

No play with that kin thing abeg

KingTom:
No play with that kin thing abeg

Tomfrench:

The babe pure o

KingTom:
The babe pure o

yea she pure die!!

Tomfrench:
yea she pure die!!

I swear down

KingTom:
I swear down

if you wan run the matter no p......i trust u

Tomfrench:
if you wan run the matter no p......i trust u

I hope say many people no too interested in the package

KingTom:
I hope say many people no too interested in the package

Nah... na new convert

Tomfrench:
Nah... na new convert

Because of this single act of valour, I dey go convert more guys for your side

KingTom:


Because of this single act of valour, I dey go convert more guys for your side

KAAAABIESIIII !!! May you live long

Tomfrench:
KAAAABIESIIII !!! May you live long

Wait no hail me first

KingTom:
Wait no hail me first

ok...After the matter

Tomfrench:
ok...After the matter

You sabi