How do you afford private school?

[Anonymous]

Hubby and I both make about $230k in HHI, we have one child and hardly go on any vacations, spend very little on dining, clean our own house, shop at old navy and target/walmart, mow our own yard, cut cable, work out in our basement to youtube videos, etc. etc. We live very modesly and we seem to make it work. Grandparents/family helping with tuition is non-existent, so it's totally on our two shoulders to "make it work". DD tuition is $25k a year. I guess we've realized that her education is the most important thing to us and we will move mountains to make sure she's in a good fitting school.

[Anonymous]

Anonymous wrote:Parochial schools are far less expensive and many offer financial aid. Private k-12 is a higher priority for us than college savings. For college- we will encourage state schools.

why? just curious

[Anonymous]

Educating our children while they are young in a religious atomsphere is more important to us. High quality college education can be found at state schools at a price point that makes sense. I'd rather spend the money now on k-12.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All of these incomes are insane. Please get some perspective. We do just fine on $80,000/year.

Plenty of people get by on that income. Most of them are not paying $40k in private school tuition.The thread is about how people afford private school. If you are able to afford private school on that income, good for you.

It's called parochial school, buying an affordable house (hint: over half a million isn't affordable), and, idk, not spending ridiculously? Have you all not heard of Aldi? Paying cash for used cars? If I was making $400k a year, I genuinely do not know how I could spend it.

Where we err live that family homes cost less than 500k?

Plenty of places in DC? It's just outside the Bethesda/Potomac bubble.

Plenty of places! Areas of Silver Spring, Rockville, Olney.

[Anonymous]

Have fewer kids--one or max two. Not only will you be more likely to afford private school, you can also be comfortable in a smaller home. Also being able to spend more time taking each kid to school and activities.

[Anonymous]

Anonymous wrote:

Anonymous wrote:All of these incomes are insane. Please get some perspective. We do just fine on $80,000/year.

And you are paying for private school? No one asked for advice on how to budget or for judgement or how we should or shouldn’t feel about our incomes. The poster asked how people were paying for private school, and people are answering that question.

And honestly, I think it would be really, really tough to live in this area on $80k as a HHI with a kid. I know a lot of people do it, but it would be hard as hell.

If this person bought their home a long time ago, inherited a parents home or rent, it might be doable.

[Anonymous]

Anonymous wrote:Have fewer kids--one or max two. Not only will you be more likely to afford private school, you can also be comfortable in a smaller home. Also being able to spend more time taking each kid to school and activities.

Also, both parents should keep working. Much harder/more risky for those who are not dual-income. If one person scales back, it makes it much more difficult to guarantee HHI increases in the future and save for things like private school.

[Anonymous]

Anonymous wrote:All of these incomes are insane. Please get some perspective. We do just fine on $80,000/year.

Umm, what? How so? Are you in subsidized housing or something?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All of these incomes are insane. Please get some perspective. We do just fine on $80,000/year.

Plenty of people get by on that income. Most of them are not paying $40k in private school tuition.The thread is about how people afford private school. If you are able to afford private school on that income, good for you.

It's called parochial school, buying an affordable house (hint: over half a million isn't affordable), and, idk, not spending ridiculously? Have you all not heard of Aldi? Paying cash for used cars? If I was making $400k a year, I genuinely do not know how I could spend it.

You would start living a little...Aldi? I took a stroll through there and kept right out the front door. There are a few items worth picking up, but I'll pass on everything being some unknown brand. Cash for used cars?!? Sorry, but not sorry - I work too hard to drive a car that is going to be and out of the shop. No hoopties for me. If you were making 400K, you would absolutely find a way to spend it. People spend what they make, it's not that hard at all. Over the course of my life I have gone from making $34k to $170K. I started off driving a Corolla and living in an apartment to now driving a Mercedes and living in a $500K home. Wasnt' that hard to conceive of or do. If I made $400K I would up the luxury on my car, get a boat and buy a beach vacation home (not even sure if $400K is enough for all of that).

[Anonymous]

I’ll take the bait, used car commenter is killing me. I bought my car when it was used and a year old. It had been a rental and only had 7,000 miles on it but was <50% of the price if it had been new. It certainly hasn’t been in and out of the shop and if anything it’s had way less problems than my mom’s brand-new luxury car which has had a million little electrical issues and random recalls. Being snobby about a massively expensive item that depreciates the second you buy it makes you sound ignorant.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All of these incomes are insane. Please get some perspective. We do just fine on $80,000/year.

And you are paying for private school? No one asked for advice on how to budget or for judgement or how we should or shouldn’t feel about our incomes. The poster asked how people were paying for private school, and people are answering that question.

And honestly, I think it would be really, really tough to live in this area on $80k as a HHI with a kid. I know a lot of people do it, but it would be hard as hell.

If this person bought their home a long time ago, inherited a parents home or rent, it might be doable.

Bought our home 2 years ago, no inheritance

[Anonymous]

Anonymous wrote:I’ll take the bait, used car commenter is killing me. I bought my car when it was used and a year old. It had been a rental and only had 7,000 miles on it but was <50% of the price if it had been new. It certainly hasn’t been in and out of the shop and if anything it’s had way less problems than my mom’s brand-new luxury car which has had a million little electrical issues and random recalls. Being snobby about a massively expensive item that depreciates the second you buy it makes you sound ignorant.

+100

[Anonymous]

Anonymous wrote:I’ll take the bait, used car commenter is killing me. I bought my car when it was used and a year old. It had been a rental and only had 7,000 miles on it but was <50% of the price if it had been new. It certainly hasn’t been in and out of the shop and if anything it’s had way less problems than my mom’s brand-new luxury car which has had a million little electrical issues and random recalls. Being snobby about a massively expensive item that depreciates the second you buy it makes you sound ignorant.

There is nothing snobby about liking to drive a nice car when you can afford it. Suggesting that the only way to "not be ridiculous" is to buy a used car with CASH makes minimal sense. I grew up riding around in hoppties, and well I'm over the experience. There is nothing snobby with preferring a new car. I work hard...and so, I enjoy a few of the finer things in life that I can afford. If he/she is OK with minimal luxuries, great. But to come on here and turn his/her nose up and people who are "rich" and can afford private school, well they seem to be an "understated" snob. So proud to not be rich, its obnoxious really.

[Anonymous]

Anonymous wrote:

Anonymous wrote:All of these incomes are insane. Please get some perspective. We do just fine on $80,000/year.

Umm, what? How so? Are you in subsidized housing or something?

No, we just don't live in a mansion. The average HHI in DC is in the $85k range iirc. Lots of people do it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All of these incomes are insane. Please get some perspective. We do just fine on $80,000/year.

Umm, what? How so? Are you in subsidized housing or something?

No, we just don't live in a mansion. The average HHI in DC is in the $85k range iirc. Lots of people do it.

Well hey, happy that it is working for you. Why the rest of us should feel ashamed for making 6 figures is beyond me. I can't speak for anyone else, but I worked very hard to earn my degree and I work hard every day at my job. That I can afford to spend some of it on an expensive private school education, is just my personal reward to myself and family.