Economics of Schooling

I. Computation
1. Personal Needs Weekly Monthly 2 Years
a. Daily Food Allowance 245 980 23,520
b. Shelter Needs / 840 20,160
c. Clothing Needs / 500/6 Months 2,000
d. Monetary 500 2,000 48,000
e. Medical / 2,000/6 Months 8,000
f. Communication 100 400 9,600
g. Transportation 80 320 7,680
h. Toiletries & Laundry / 3,000/6 Months 12,000
i. Insurance / / /
j. Others / / /
Total: 130,960
2. School Needs
a. Tuition / 14,000/SEM 56,000
b. Books / 3,810/SEM 15,240
c. Requirements / 900/SEM 3,600
d. Uniform/Shoes / / 3,200
e. Others (Collections) / / 1,500
Total: 79,540
3. Other Needs
a. Electricity / 500 12,000
b. Water / 60 1,440
c. Gadgets / / 10,000
d. Others / / /
Total: 23,440
Grand Total: 233,940
II. Insights
As I was working with this, I was already expecting to get a high
amount of net worth within 2 years. Also, I now understand how hard
it is to raise children since it needs an enormous amount of money and
getting such money entails hard work.

III. Learnings
I learned that our parents are spending money mostly for the
benefits of their children. They sacrifice the money that could have
been spent for their own happiness such as going to trips or going
shopping. Instead, they focus on the necessities that are to be bought
for their children to be happy and live a life that will not be full of
regrets.

IV. Commitment
As a student and a young individual, I promise not to waste the
efforts that were given to me by my parents. I will do my best to
achieve the things that they want me to achieve and never stop to
pursue my goal in order to make them happy. I cannot say that I can
fully help in reducing the amount of money that they are spending for
me but there ways that can help in making it less such as aiming for
scholarships and not asking for things unless necessary. Also, I would
handle the things that I acquire carefully so that it will not be easily
broken and will last with a long life span.