Worth It or Not Worth It: Paying for an Exchange Student Program
QUESTION:
I am a 33 year-old mother who manages an online shop from home. My husband and I want to send our daughter to an exchange student program in South Korea with some of her schoolmates who also got selected. The one-week program would cost around Rp 15 million and it’s going to be held mid next year, which means we will have 8 months to save.
1. How will you fund this trip?
a. From my husband’s bonus/THR next year
b. From our savings
c. From savings set aside for family vacations
2. Do you currently have credit card debt (e.g. you have a balance on your credit card that you have not yet paid)?
a. Yes, more than Rp 15 million
b. Yes, less than Rp 15 million
c. No credit card debt, we pay entire amount by due date
a. She can get new experience and widen her international friends
c. This is her final year, so she’s probably not going to have this chance again
ANSWER:
If You Score 50 or Less:
Learning about independence at an early age is good for your daughter, but unfortunately you can’t afford to pay for this trip because you are either in debt, or have too little savings — since you need to wait for THR to get the fund. We would suggest that you try to get a sponsorship for this program or get an extra income from your online shop.
If You Score Above 50-80:
You can fund this trip as long as:
1. You will still have 6 months of expenditure left in your savings, and
2. You’re not planning another holiday trip anytime soon
If You Score 80 or More:
What are you waiting for? Tell your kid to start learning the basic Korean greetings, because you can afford to pay for her trip! Hopefully this cultural trip would prepare her before she enters the college years.
