PKF Australia

Accountants and Business Advisers

Start now to give your children the best start

Start now to give your children the best start

Everyone wants the best for their children. Providing a good education is a huge part of preparing them for the best possible future. But as education becomes more expensive, planning and budgeting for these costs become essential.

1. Start now

The sooner you start saving the better. Consider a regular investment plan to take advantage of compounding interest.

2. Make sure your insurances are adequate and up-to-date

Think about income protection, life insurance and cover for extended illness.

3. Pay as much as you can afford into your mortgage with an offset/ withdraw facility

This will help reduce the interest and then have the option to redraw to pay for school fees.

4. Work out how much you need to put aside

The table shows a rough guide to the costs of primary and secondary education. These figures represent the upper ranges that parents can reasonably expect to pay, although fees vary across states, ages and schools.

5. Make the most of gifting

For grandparents and those wanting to give something special, a savings account could be a great way to give a new baby something that will grow with them.

6. Pre-pay education expenses

If you already have children at school, check if the school allows you to prepay fees at a discounted rate. If you are able to pay upfront, it may help reduce the worry about rising costs into the future.


Primary Secondary
Government primary school: $500 - $3,000 Government secondary school: $900 - $4,000
Systemic primary school: $3,000 - $6,000 Systemic secondary school: $8,000 - $11,500
Private primary school: $9,500+ Private secondary school: $13,000+


Source: Australian Scholarships Group (ASG)

Take a moment to make sure you’re on the right track. Get in touch with us today about what you can do straight away to ensure your child’s education is the best it can be.


Past performance is not a reliable indicator of future performance. The information and any advice in this publication does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. This article may contain material provided directly by third parties and is given in good faith and has been derived from sources believed to be reliable but has not been independently verified. It is important that your personal circumstances are taken into account before making any financial decision and we recommend you seek detailed and specific advice from a suitably qualified adviser before acting on any information or advice in this publication. Any taxation position described in this publication is general and should only be used as a guide. It does not constitute tax advice and is based on current laws and our interpretation. You should consult a registered tax agent for specific tax advice on your circumstances.


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