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

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[quote=Anonymous]You can afford it, but being practical, it will require you to budget and/or put a dent in your spending. When we put our kids in private school, our income was probably about 1/2 yours, and we had a full-time nanny. Our expenses, however, were well less than 1/2 of yours. Keep in mind, as others have said, you will need to keep your nanny probably longer than you plan. You'll likely need a full-time nanny until your youngest is in K, and that assumes that you have a good summer plan. If not, you'll end up paying for your nanny to work full-time and she'll find other things to do around the house, so as to keep her.

I'll be honest, when our kids were in the preschool/early elementary, plus full-time nanny, it was tight and we had to watch what we spent. Our mortgage was $3500, no student loans, only one car payment, nanny about the same, and our expenses were less. But, with college savings, nanny, maxing out on retirement, and the private school, there didn't seem to be a lot left.

Now we make slightly above your current income, and I don't notice the private school payments, but our expenses still remain much less. Although our mortgage is about the same, our nanny is 1/2 as she is part-time, our car payments are less, and we don't have loans. Our kids are in year round expensive activities with lots of travel meet expenses.

I really think it comes down to what's the best fit for your kids. We have plenty of friends who have done public, and I'm envious, but our kids really needed small. In hindsight, perhaps our oldest might have done fine, but our youngest really needed a small private. 
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