Smart Saving Strategies to Prepare for Rising Education Costs

Each year, the cost of education continues to climb. From enrollment fees and monthly tuition to supporting needs like books, uniforms, and extracurricular activities, these expenses add up quickly. For parents, this can be a real challenge, especially when aiming to provide the best education without straining the family’s finances.

The good news? With the right planning and saving strategies, you can get ahead of rising education costs. Here are some practical tips to help you start early and save smarter.

1. Estimate Future Education Costs

The first step is to calculate how much you’ll need for your child’s education, from today until their highest level of schooling. Take inflation into account, education costs typically rise by around 10–15% each year.

For example, if elementary school enrollment today costs Rp10.000.000, that amount could exceed Rp16.000.000 in five years. Without proper planning, this can put serious pressure on your financial situation.

2. Save Regularly and Consistently

Saving consistently is much easier than scrambling to find a lump sum right before the school year starts. Set a realistic monthly amount and treat it like any other essential expense. This habit not only makes saving less stressful, but also helps you stay on track with your long-term financial goals.

3. Use a Dedicated Education Savings Account

To keep your education fund separate and focused, consider using a goal-based savings product specifically designed for education. At Bank Muamalat, you can choose from iB Hijrah Term Savings Account or Dana Impian, both of which allow you to automate monthly contributions while enjoying flexibility in terms and deposit amounts.

These savings accounts are managed based on sharia principles, emphasizing fairness and blessings (barakah) in every financial transaction. Plus, you can easily monitor your savings progress through the Muamalat DIN mobile app.

4. Avoid Unnecessary Spending

Impulse buying, pay-later services, and consumer debt can easily derail your financial planning. Building financial discipline is key to ensuring your child’s education fund stays intact. Prioritize what truly matters and cut back on non-essential expenses.

Make Your Child’s Education Dream a Reality with the Right Financial Plan

Saving for your child’s education isn’t just about money, it’s about securing their future and giving them the best possible start in life. With a clear strategy and the support of a purpose-built, sharia-compliant savings product, you can feel more confident in your role as a parent.

Open your iB Hijrah Term Savings Account or Dana Impian account today through Muamalat DIN and take the first step toward building a brighter future for your child’s education.