Sending your kid to private school will save you $1,053,000

Time Magazine reports that private school can save you money by giving you home location flexibility. This in turn can save you $50,000. They are right! Our house is in a ok but not great school district. It is smaller so there are less repairs and utilities.

Less Pressure To Spend

More importantly keeping up with the Jones is a lot different in our neighborhood. Folks are lot more down to earth. Literally. Hiring a lawn service is considered either 1) a mark of shame or 2) you must be ill.

Folks who move here and hire a lawn service invariable shift to mowing it themselves. Small yard and you can’t help how easy it is to do. Plus the entire street is a tool sharing enterprise. Having two auto mechanics on the block helps for expert advice too but we rarely need it. The point being that a lower cost neighborhood is lower cost on many levels and with more down-home kind of folks we prefer.

The Up Side – More Earnings

And private school raises the odds of your kiddo going to college. And you will be used to saving lots of money and shelling out tuition expenses anyway so you are more likely to be set up to pay for it. And that equates to a million an extra income over their career (typically). Start to think across the generations and it starts to get impressive.

And while money isn’t the main driver for a private school it is worth noting that you save a lot more than $53,000 when moving to a lower cost neighborhood and paying for private school.

And lower costs houses are smaller, older and closer to area of employment. Your car costs will go down and with that shorter commute you will be more rested and eventually prompted.

 

Why not improve your local school instead of sending your children to private school?

In an article over at LearnVest a parent graciously describes the details  and sacrifices of why they send their children to private school  to help educate us and share their story.

The comments in response to the article were filled with criticisms.

One comment stood out;

“I love the “we had no choice” but to put our kid in private [school] argument.  Why not put your kid in the public school and spend some energy improving the school? “

I honor and respect those who sacrifice by staying in a difficult environment to make things better.  They reject better choices for their family for the good of the community.

So lets extend this persons line of thinking to explore the principal behind it. Couldn’t the family take public transportation every where and become vocal advocates? Or move to a food desert and use their earning power and ability to problem solve to help the entire community have access to fruit and vegetables?

What I don’t understand is the willingness to put someone else (in this case, their children) in an environment that needs improvement on multiple levels that are unlikely to be solved in the time they are there.

Another alternative is to send your child to a private school that teaches social activism and key life skills. Thinking longer term, an adult who  will spend a life time thinking about how to help others and will have the tools and financial means to do is another valid way to help both the family and the broader community.

The simple life

One advantage of sending your child to private school is that much of your income goes along with them. As a result it limits the other available choices because you have much less discretionary income.

Fretting over a grand tour of Europe? Fret no more! You aren’t going!

This extreme financial constraints limit your choices and the resulting simplification actually leads to longer term happiness. It is known as the paradox of choice.

Have you always wanted to simplify your life? Now you can! And what better way than the assurance of a monthly tuition bill.  To be clear this isn’t about poverty – this is about voluntary simplicity. It is an interesting side effect we have noticed over years of sending the kiddo to a private school.

Read more about it in this outstanding book The Paradox of Choice (you are going to have a lot of time on your hands).

Oh, and for the trip? Easy, you are either staying home or going camping. Pick one.

 

Mountains in Italia
By Marco Bonomo – https://unsplash.com/photos/Sa7787z58VQ/, CC0, Link

Paying for private school is training wheels for college expenses

I often hear from folks who say that can’t afford to pay for private school for their young children because they are saving for college.

That is like saying you are going to wait to train for a marathon until the day before because you don’t want to wear yourself out.

The time to educate your children is now, not after they have grown up and are using education primarily for job skills acquisition.

And a benefit of this approach is you are running a college simulation program! You are practicing paying for a portion (or all) of college, right now. Good for you! Keep it up!

Yes, there is a risk that things won’t work out as expected but life is full or risks. Don’t wait until the end of it to do what you feel is right.

You can do this.

Black Friday! Act now! Don’t miss the holidays!

 

Today is Black Friday. One can save thousands by acting fast!  One day sales only! Act now! Quick! Save hundreds by spending thousands. Sure, your cash balance

caption2
By Powhusku from Laramie, WY, USA – Black Friday, CC BY-SA 2.0, Link

will drop and credit card balance will rise but hey, look at all the new fancy stuff you didn’t even know you needed!

Resist.

Slow down.

Get out of line. Empty your online cart.

That stuff will still be there next week. And the week after that. And without time pressure you can buy fewer items and spend less money overall.

How about this instead? Consider just 4 items for each child for the holidays.

  • Something they want
  • Something they need
  • Something to wear
  • Something to read

Give them the benefits of a frugal Christmas. This in turn may allow for higher quality items to be purchased while creating less waste.

Expect complaints. And comparisons to what other kids received. Be ok with that. Instead, you are giving your kids a great education and the tools, later in life, to buy stacks of material goods if they so choose.

 

The Informed Electorate

On Tuesday November 8th, Donald Trump was elected the 45th president of the United States by winning the required electoral college votes with a separation of only 112,000 votes.

It was a contentious election cycle with harsh words and harsher accusations flung by all parties.

Despite which side you were in favor of it is clear that the election was close, complex and nuanced.

Thomas Jefferson once said that “An educated citizenry is a vital requisite for our survival as a free people.

An educated citizen starts with the education of children where a diversity of thought and training only enriches the discourse. Your job, with the help of others, to educate your children.

If you are considering, or already sending, your children to private school – great job! On paying for private school we discuss motivations, financial approaches and the down sides of electing to send your child to a private school.

By Ali Zifan, via Wikimedia Commons