How do you afford private?
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Anonymous
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We have a HHI of somewhere between $370-400 and 2 kids. We just don't think we'll be able to swing it.
Do you not save? Do you have family money? Do you have a tiny house? These are totally serious questions - my hypothesis is that DH is too much of a saver and that we put too much money away for college/rainy day fun. |
Anonymous
| Much lower HHI with a small house in a non-fancy area. You can do it on your HHI if it is a priority. I am not saying that it should be, plenty of good less expensive options, but you can do it for sure if you don't have an insane mortgage or debt load. |
Anonymous
| OP here. No debt. We have a mortgage - but not an unreasonable one. |
Anonymous
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Small house. 4 kids. 1 at home, and pay $30,000 a year child support for 3 living out of state.
Tuition for one is only $12,000. We could go up to $20,000 and will likely have to in the next 5 years. HHI $230,000 We prioritized retirement, private school through 8, and travel over a large house. |
Anonymous
| Tuition at most non religious schools is more like $30-40k per child. |
Anonymous
| HHI $150k. We live in a townhouse in the suburbs, drive older cars, and do not feel the need to impress anyone with anything. We have one in private at $30,000/year and we're doing just fine. It's all a matter of priorities. |
Anonymous
| I don't understand how you can't do it on that HHI. You must be committing the money elsewhere to something you consider more important. Which is fine as long as you recognize that it's a reflection of your priorities and not the actual lack of money. |
Anonymous
No really OP. REALLY? I know you said your questions were "totally serious" but how in the world do you expect anyone to feel sympathy for you? On top of your huge income, you have no debt. What the HELL do you do with all of your money? and please don't tell me that all of it has gone to college savings. Sounds like you need to access you "rainy day fun money" and get a reality check. |
Anonymous
+1. Similar situation. DC knows that private education is our priority. No fancy cars, no Tory Burch, no CCs, no fancy outings, no regrets. Would do everything we could for private. |
Anonymous
Must have missed the part where OP was looking for sympathy. She was looking for someone to help normalize the questions she is facing - can I afford this? Is it normal? Should I be worried? Totally normal questions. Get over yourself. |
Anonymous
+1 |
Anonymous
| The better question is where is your money going. $400k/yr is $33k/month. How much is your mortgage? How much are you putting in retirement, college savings, general savings? If you don't have debt payments, where are you putting the money? |
Anonymous
| HHI of $130,000 year but have inheritance from parents - use that to put one child through private. Could not do it otherwise (going on year #10). |
Anonymous
| Op, don't do it. Save so that your kids & grand kids can inherit something! It's really foolish to put your family in a precarious financial situation....what if one of you lost a job, got cancer, etc. |
Anonymous
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Low mortgage
Make my own coffee Don't eat out Modest vacations Reliable not fancy car Cleaning person ever other week Don't buy everything my kids ask for like a phone and $300+ tennis shoes Modest clothing |