Private school -- what portion of income are people spending?

[Anonymous]

Anonymous wrote:Ouch!! Our bank account just got hit with our first tuition payment of $4,200. This is going to be our monthly payment for the next 10 months. We are a one earner family which nets between $800K and $950K a year depending on bonus. Bonus is deferred and health insurance 100 covered. Our monthly take home is around $25K. No debt beyond a $2,500 monthly mortgage. We drive 7 year old cars and no country club membership. So I think we are good for another 4 years of private school. College is funded through 529.

So $42k in tuition is about 5% of your net $800-950k annual income. What in the world is causing "Ouch?" You clearly aren't spending much on your house and you drive old cars. I wouldn't know how to spend that much without a serious drug habit.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Ouch!! Our bank account just got hit with our first tuition payment of $4,200. This is going to be our monthly payment for the next 10 months. We are a one earner family which nets between $800K and $950K a year depending on bonus. Bonus is deferred and health insurance 100 covered. Our monthly take home is around $25K. No debt beyond a $2,500 monthly mortgage. We drive 7 year old cars and no country club membership. So I think we are good for another 4 years of private school. College is funded through 529.

So $42k in tuition is about 5% of your net $800-950k annual income. What in the world is causing "Ouch?" You clearly aren't spending much on your house and you drive old cars. I wouldn't know how to spend that much without a serious drug habit.

An expense is “ouch” if it feels big, even if you aren’t otherwise spending big.