What are your plans for the fall? Given September is not that far away, do you have a plan?
For many folks September really is just another month, and I hope some time in my life it returns to that state, however if you have children, you know full well that the month of September can actually be one of the biggest outlay months of the year (yes even bigger than December (or January for that matter)).
I used to think that September expenses were out of control when my kids were in elementary school and even high school, but as you all know, once they got to University it was a completely different creature (or problem).
In High School you pay for:
- Back to school clothes
- Paper and various school supplies
- Maybe a new computer if your kid reaches that age
- Sport charges or school programs that need funding
- Maybe bus passes or transport costs
The first few times you go through this, it really feels like a lot of money, but then you hit the University Years where your costs are the above plus:
- Tuition, if you are Canadian you are looking at $4,000 or so in these costs (every 4 months), if you live in the states, I have no idea how you pay that. Better hope your RESP has enough in it.
- Books, could be anywhere from $250+ (in Engineering and other areas could be over $750)
- Living expenses, if they move away from home try for $2500 to $5000 every four months again
Or, maybe not, maybe your kid is paying for it themselves, so maybe September is a wonderful time, because you get to keep your money (anybody out there like that)? Maybe your kid is in a co-op program? Maybe your kid is getting a bunch of grants?
What is your September going to look like? A tsunami of spending, or just another month? Might be time to make plans for the fall .