One of your major expenses in life may be investing in your children’s education, including private school fees.
Its not uncommon to see parents that are miserable trying to scrimp and save to put their children through private school. This might mean working long hours – and often not seeing much of their children during these years.
There has to be a better way to balance your finances with enjoying your time with your children, before they head off to university and their careers and you see much less of them.
So what are your options?
This is not an exhaustive list but may be a good starting point:
- Saving and investing in advance
- Drawing on the equity in your home or investment properties
- Opting for a well-rated, but more economical private school. This option may be especially attractive if you feel your child may thrive more at the latter.
- Waiting until high school to send them to private school
- Residing (buying or renting) in the catchment of a well-rated state school
- Reducing spending in other areas
- Seeking a scholarship
You may even need to go ‘backwards’ financially for a few years, factoring in you can play ‘catch up’ in future years, especially as a high income earner with the growing demand for health services, ability to work more hours and extend your working life if you wish.
“Nothing beats luck like preparation”
Please don’t hesitate to contact us if you would like to explore options for funding your children’s education.