School related fees – aftercare, holiday care, nanny when sick

• When should you start saving for your child’s education?

Never too early – saving before child is born, insure education costs can only be done once born

• What is a good way to start the saving process?

Unit Trust kind of product. Less fees, flexible

• What options are out there, and how do you decide which one is best for you?

Investment vehicles that most know of is commonly referred to as Edu Policy – exactly the same as Endowment – same fees and rules

Then Unit Trust  or Flexible Investments – name it Edu fund

Then Insuring in the event of death

• Any tips on how to cut down on expenses so you can allocate funds to savings?

Don’t be shy to ask for items your friends don’t need anymore for their children

Cook baby’s food rather than using purity and/or pre-made dinners from stores. Very expensive – bulk cooking MUCH cheaper

Breast feed for as long as possible – Formula very costly

Shop for specials

Try hard to prevent doing emergency buying

Initially save a small amount and increase it every 3 months with only R50 so it doesn’t cripple you