Back-to-school season also means back-to-back
expenses. On top of making ends meet amid the increasing costs of everyday
necessities, households will now have to shoulder additional expenses.
Several educational institutions are
anticipated to increase their tuition and miscellaneous fees by 3 to 10 percent
for the upcoming school year, as the five-year moratorium imposed by the
Commission on Higher Education has lapsed.
In a country where the annual cost of higher
education can reach up to Php150,000, cost is the main reason why education
remains inaccessible. While public schools and state universities do not charge
tuition, Filipinos have to consider other expenses for the rest of the school year
including food, school uniforms, books, supplies and transportation.
As wais
parents and breadwinners are compelled to work double-time in preparation for
the school opening, here are five ways to help them manage school-related
expenses all year-round:
Declutter
and Reuse
Did you buy school supplies in bulk last year?
How many of these are still lying around unused, stashed in drawers and
cabinets? Set a time for spring cleaning to round up all the items you already
own and check if they are still in good condition. Working pens, notebooks with
lots of blank pages can still be reused or repurposed. Even old books and
uniforms your kids have outgrown can be sold on relevant Facebook groups and
online selling platforms for some extra cash.
Meal
Planning
Plan a week’s worth of meals and create a
shopping list based on your plan so you can stay within budget. This will save
yourself from the mental workload of having to think about what to eat every
day and most importantly, will help you avoid unplanned expenses from food
deliveries, eating outside and doing additional trips to the grocery store.
Expense
Tracking
You might be surprised how small, measly
purchases accumulate in the long run. Tracking your expenses will allow you to
take a good hard look at your spending habits. Whether you prefer a
spreadsheet, a journal or an app, keep a record of your expenses. From there,
you can find out which expense to reduce so you can stay within budget and
allocate it towards school expenses.
Quality
Over Quantity
With sales and promos left and right, it’s
always tempting to go for the cheapest school item you can find. While not
every item is worth splurging on, it’s best to invest in quality items
especially if they are being used everyday, such as school shoes and
lunchboxes. These items may have a high one-off cost, but if they are sturdy
enough, you won’t have to repair or replace them in the next few months.
Flexible
Loans
Every parent wants the best educational
experience for their children, but multiple expenses — from tuition and school
supplies to baon, transportation costs and even extra-curricular activities –
make this a challenge. If you find yourself short on cash to cover all these
expenses, there are ways to get help without adding any more pressure to an
already stressful situation. Whether you need to pay for
an unexpected school expense or you simply need to add to your current budget,
you can make use of convenient personal loan products that offer flexible
payment terms, such as GLoan, GCash’s loan product.
With GLoan, abot-kaya ang back-to-school
because you can get up to P125,000 straight to your wallet, which you can use
to pay for different school expenses. You can use GLoan to fund tuition fees,
arrange for transportation service, buy new sets of school uniforms and shop
books and stationery.
Eligible GCash users can borrow from P1,000 to
P125,000, with a competitive interest rate of as low as 1.59% per month. With
payment as low as P265 a month for 5-24 months, you don’t have to worry about
disrupting your monthly budget. Suddenly have an upcoming field trip or an
unanticipated school project? There’s no need to miss out. As long as you are
eligible, you can get instantly approved with no additional documents needed.
After which, your loan will be sent straight to your GCash wallet in an
instant!
Access
GLoan through your GCash dashboard or find it under “Borrow.” No GCash yet?
Download the GCash App on the Apple App Store, Google Play Store, or Huawei App
Gallery! Kaya mo, i-GCash mo!
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