Paying for private school in the DMV area

Tips and tricks for sending your child to private school for Washingtonians

Category: DC, Maryland and Virginia

Do you have a Fitbit? Get paid for your steps!

Get paid to walk!

Today I have walked almost 10,000 steps today at my own pace and made money while doing it. Those 10,000 steps, or almost five miles of movement, were collected while insourcing domestic household chores.

Pedometer steps for the day

The Step to Dollars Experiment

These steps were accumulated solely while doing household chores; this morning I ran five loads of laundry washing over 100 items of clothing instead of sending them to the dry cleaner. And I made lunch instead of eating out. And then I cleaned the house instead of hiring a cleaning service. After that I raked the leaves in the yard on this crisp Washington DC day instead of hiring a lawn service. Finally, I made  a simple home improvement and other odds and ends (got the mail and so forth).

The Numbers

Let’s take a look at the domestic insourcing numbers for the day.

Activity Insourcing cost Outsourcing cost
Laundry $6 (electricity and water, amortized equipment) $500 ($5 a piece)
Lunch $3 (materials) $15 (take out, gas)
Lawn $.01 (cost of rake amortized) $25
Deep cleaning $5 (cost of materials and equipment amortized) $75
Home improvement $0 $112 (online estimate)
Gym membership $0 $60
Blood pressure medications $0 $100 (monthly cost, some of which insurance covers – but someone still pays for it)
Totals $14.01 $887

So I avoided $872 in expenses. And that means I avoided having to earn $1177 dollars before taxes and deductions. And all of this took only 9560 steps as reported on my trusty low cost Ozo fitness pedometer ($100 less than a fitbit for those wondering).

Did I actually get paid?

Using these numbers we can calculate that my pay rate was 12 cents per step ($1177/9650 steps). And all this wandering around took about five hours so my hourly pay rate was $235 an hour.

And while I didn’t actually get a check for doing the work I didn’t have to earn that money either. Once you understand how much of your labor is taxed, calculating the un-taxable work of insourcing the numbers are eye opening. All these things needed to happen – by me or someone I hired.

But wait there is more.

In addition to getting paid, I also got more than the recommended amount of moderate exercise in for the week. And apparently, walking can reduce mortality rates by 20% (although presumably not forever). *And* walking regularly reduces depression rates. That seems priceless to me. Still, we can measure it and mental illness can reduce income by up to $16,000 a year.

And form of mental illness can be somewhat alleviated by hauling laundry up and down some stairs once a week instead of sitting on the computer or watching the big game.

Fear not you can still do this Saturday morning and still watch the Nationals in the world series. Not on cable of course!

Go Nat! And Go You!

Get up and grab a rake or straighten up the living room before the big game. Every little bit helps conserve big funds for that next tuition bill and might even raise your income back at the office. Get paid to walk!

Quit Like A Millionare!

I am a big fan of Kristy Shen and Bryce Leung over at Millennial Revolution. They have innovative ideas and execute their plan amazingly well. They are way more advanced than me and I learn a lot from their site and recommend you check it out. And they recently released a book called Quit Like A Millionare! I recommend you read the book. Borrow it from the library or obtain a copy via my free give away instead of buying it. In the book Kristy candidly describes her background and correct (in my opinion) perspective on money as a result. In particular I recommend you read “Don’t follow your passion yet” (chapter 4) and “Your house is not an investment”(chapter 9). In the Washington DC area understanding this information can boost the quality of your life in so many ways. Change your perspective of what is awesome and easily pay for tuition and live well my friends despite DC ranking 5th in Kiplinger’s 2019 most expense cities to live in ranking.

Book cover for Quit Like A Millionare

I want you adapt the techniques in the book and use your new financial super powers for good. Sponsor a child through SOS international, donate to the human society, Go help a family in need, share what you have learned (like Kristy and Bryce have through their site, interviews and book) or educate a child.

To help you on your way the first three people to comment on this article asking for a book (be sure to include your email so I can determine where to send it) will be sent a free copy.

Five ways to cut college tuition costs by a third in the DC area

In the DMV we are lucky to have a number of education options available. Did you know there are also ways to reduce tuition costs? Here are five ways to cut college tuition costs by a third or more.

  1. Many people we know spend the first two years of school at community colleges and then transfer to their desired school for the final two years of study. For example, Montgomery College has a tuition of $5000 a year. The University of Maryland is $12,000 a year, ($20,000 if you live there). So you can either pay $80,000 for a four year degree from UMD… or $50,000, for the exact same degree by first completing your core credits at a local community college. That move save you $30,000 on tuition costs.
  2. And many companies in the DC area will pay for your tuition. The MITRE Corporate , with offices in McLean, Virginia, will cover $28,000 of your studies. Assuming your student picks up a graduate degree at night over three years at one of these employers that is another $84,000 in tuition assistance. And you get to apply what you learn right away.
  3. Also, DC residents should learn about the D.C. Tuition Assistance Grant program which grants up to $50,000 in benefits.
  4. Stay close to home. UVA’s in state tuition is around $20,000 a year. Out of state? Almost $50,000 a year. Save your family $120,000 by selecting avoiding a school that requires a trip on the beltway to get there.
  5. Finally, many colleges offer a discount to children of employees. For example, here is the 50% of tuition remission offered to University of Maryland Employees. That is $24,000 in tuition assistance right there.

Combining these steps can make tuition more affordable for both private and public colleges (and some high schools). These five options total $308,000 in tuition assistance with no scholarships. This will save you from having to earn almost $400,000 in income to pay for the stuff.

Education is a high priority in the DC area given the nature of the work here. Area institutions, governments and employers recognize and support this if you take the steps to apply for the benefits.