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Private & Independent Schools
Reply to "Budgeting for Private School -- Convince my spouse"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You could do it if your mortgage and other expenses weren't so high.[/quote] Other than mortgage and travel, what other expenses look off?[/quote] $1500/month groceries is high. $6000/year for camps is high when your little one isn’t at them? ~$7500/year for kid activities (music + kid activities) is high. When you add 9 months of after care ($2700), that’s more than $10k. $300/month for mobile phone, even with your parents on the plan, is bonkers high. $625/month for shopping is high If you aren’t willing to compromise on travel or mortgage, you need to scrutinize all of the above aggressively to claw back where you can. Private school is a luxury. If you aren’t willing to make trade offs, it’s not doable on your budget. [/quote] Cutting only the above expenses by 1/2 gets you $21000 a year. This would still be better placed in your savings ($18700/year in savings as currently budgeted is NOT enough), but it would get you closer. [/quote]
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