A new bank survey shows few families are saving for their children's education despite identifying it as their biggest expense.
The results of a saving and spending survey by RaboDirect bank show schooling is the biggest expense for parents, with nearly 48 percent of respondents ranking it over other costs.
Sports and hobbies were the next biggest cost, at 17 percent, followed by dental fees 14 percent and technology 8 percent.
Despite this, the survey found only 8 percent of parents were saving to cover the cost of education.