your teenager’s matric dance

Ester Kali, Executive: Retail and Business banking at FNB Namibia says: “Matric farewell season is drawing near, which can end up being a costly exercise for parents. Gone are the good old days where dad’s car was good enough as well as a normal dress from a retailer.

Many parents find themselves torn between wanting to give their teenager a beautiful outfit with all the extras and also not wanting to blow thousands or worse, becoming indebted.”

Kali adds: “As a parent you want to give your child the kind of matric send-off that is memorable and one that they deserve. They ‘ve worked hard throughout the year, but the costs of outfits, travel, after-parties and even breakfast the next morning all add up.” Kali, however, stresses that a matric dance can still be special without ruining your bank balance.

“There are a number of measures you can put in place to help ease the financial load of a matric dance, starting with a budget,” says Kali. Every household should have a budget to plan for everyday expenses, so a budget for a special event like a matric dance should be added to this as early as possible. Decide how much money will be set aside and, most importantly, stick to the budget. It is also not unreasonable to expect your teenager to contribute financially towards the day by helping with chores around the house or waitressing to earn money to contribute.”

Kali added that FNB Namibia offers a Flexi Fixed Investment, which allows customers to start saving at a good rate from as little as N$100. “The investment is over 12 months and customers will be allowed to deposit additional funds into the investment account electronically and in cash, free of charge as often as they like.”

“Most teenagers won ‘t have an idea how much the event is going to cost their parents. If they are involved you can explain why they can ‘t have that pair of shoes or latest video game, as you are saving for the special occasion,” says Kali.

Dresses, tuxedos and suits can also be very expensive when bought. Kali suggests hiring an outfit, as it is, after all, only for one night. There ‘s also no need to spend a lot of money on a hair and make-up artist. Either do practice runs before the day or find a friend or family member with this special talent to turn her into Cinderella for the night. “Just in case this year it ‘s too late for saving, we wish to ensure parents that FNB Namibia also assists with personal loans and overdrafts. Customers can just come and talk to us,” Kali said.

The most important thing to remember when it comes to your child ‘s matric dance is to have clean and safe fun.”It ‘s the culmination of a twelve-year schooling career, and if your child has worked hard, they deserve to have a memorable night of good fun.” concludes Kali.

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