BUSINESS NEWS - Matric is often seen as one of the most significant milestones in a young person's life, but for parents, it can also be one of the most expensive years of their child's schooling.
While many families anticipate the cost of tertiary education, the financial demands of matric itself can come as a surprise. From extra lessons and revision courses to the matric dance, 18th birthday celebrations, driving lessons and the traditional post-exam holiday, smaller expenses can quickly add up.
Therèse Havenga, Head of Business Transformation at Momentum Savings, says the financial pressure of matric rarely comes from one major expense. Instead, it is the accumulation of numerous costs throughout the year that can place strain on household budgets.
Academic support and additional study material are often among the first unexpected expenses. These are followed by school events, photographs, matric dance preparations and other once-off celebrations.
Learning to drive can add another substantial amount to the bill. Published prices in Gauteng range from R300 to R500 for a one-hour driving lesson, while packages of ten lessons cost between R2 800 and R5 000.
Once learner's and driving licence fees, test-day vehicle hire, additional lessons and possible repeat tests are factored in, families could need to budget between R3 500 and R8 000.
For some families, the financial demands continue after the final examinations. A matric holiday, such as Plett Rage, can cost between R9 000 and R25 000 or more, depending on the arrangements and spending involved.
What can matric cost a family?
There is no standard figure for the cost of matric, as expenses vary according to school fees, family circumstances and expectations. However, the following illustrative estimates show how quickly the costs can accumulate.
Expense | More modest plan | More expensive plan |
School fees* | R57 000 – R60 000 | R120 000 – R200 000 |
Academic support and material | R3 000 – R8 000 | R10 000 – R25 000+ |
School events, photographs and extras | R1 500 – R4 000 | R5 000 – R10 000 |
Matric dance | R4 500 – R8 000 | R10 000 – R20 000+ |
18th birthday party | R3 000 – R7 500 | R10 000 – R20 000+ |
Learner’s and driving licence | R3 500 – R5 000 | R6 000 – R8 000 |
Matric holiday | R9 000 – R14 000 | R16 000 – R25 000+ |
University applications and other forgotten costs | R1 000 – R3 000 | R3 000 – R6 000+ |
Approximate total for the year | R82 500 – R109 500 | R180 000 – R314 000+ |
These figures are planning estimates rather than official averages. Private-school fees vary considerably, and additional levies, devices and examination charges may not be included.
The estimates also exclude tertiary registration fees, residence deposits, accommodation and transport costs for the following year.
Planning ahead can ease the pressure
According to Havenga, the challenge for parents is not necessarily deciding which expenses matter, but understanding where the money will come from.
Families may find themselves relying on credit cards, drawing on savings intended for other priorities or compromising longer-term financial goals to cover unexpected costs.
Rather than removing all the enjoyment from matric year, parents can reduce the financial pressure by planning ahead.
Havenga recommends several practical steps:
- Map out the year: List anticipated expenses month by month to identify when larger payments will be due.
- Set a combined budget for celebrations: Agree on what the family can afford for the matric dance, 18th birthday and matric holiday rather than treating each as a separate expense.
- Involve teenagers in financial decisions: Allow them to help prioritise expenses and understand that choices sometimes involve trade-offs. They could also contribute towards some of their preferred extras.
- Budget for the full cost: Consider all the expenses associated with an event, rather than focusing only on the initial price. A matric dance outfit, for example, is only one part of the overall cost.
- Choose academic support carefully: Identify whether a learner needs help with subject content, examination techniques or study planning before paying for additional lessons or courses.
- Allow for unexpected expenses: Keep a contingency amount available for costs that arise during the year.
- Keep matric and tertiary savings separate: Money set aside for university or other further studies should not automatically become available to cover matric celebrations and extras.
- Maintain perspective: Social media can create unrealistic expectations around celebrations and spending. Parents should help teenagers understand that their worth and future potential are not measured by what they can afford.
- Protect long-term financial goals: Avoid making short-term financial decisions that could undermine retirement savings or other important future needs.
A valuable financial lesson
Matric is an important milestone that deserves to be celebrated. However, the pressure to meet expectations around events, celebrations and holidays can turn an exciting year into a financial burden.
Havenga believes setting reasonable limits is an important part of preparing young people for life beyond school.
Teaching teenagers that money is finite, that financial decisions involve trade-offs and that not everything can be afforded at once is also an opportunity to build financial awareness.
The aim is to allow young people to enjoy their final year of school without leaving their families with financial regrets long after the celebrations have ended.
‘We bring you the latest Garden Route, Hessequa, Karoo news’
