When cradling their newborn baby in their arms, I would hazard a guess that most parents aren’t really thinking about their child being grown up enough to walk through the school gates for the first time. And even though they’ve more than likely considered the upcoming cost of education, like most of us, the actual process of preparing and saving for a private education is often left too late.
And to be fair, for the first couple of years, I myself was so knee deep in nappies and sleep deprivation that all of my forward planning went into just getting through each day. But even then I was well aware that to put a child through private education is expensive. And it takes some serious discussion and investigation to choose what is best for your child. In fact, especially in the big cities, some parents are enrolling their children in specific schools upon birth because entry is so alarmingly competitive.
It takes some serious discussion and investigation to choose what is best for your child. Image: iStock.
When our son was in year five, I started to investigate the costs of adequate private schools. Whilst I had a ballpark figure in my head, I’ll admit seeing those amounts, doing the sums and realising how much it would impact our weekly budget was really quite an eye opener. It just wasn’t something we had worked into our already tight family budget, but it was something we’d have to figure out and figure out fast.
Now, whilst putting a price on a child’s life makes me feel uneasy, I’ve since learned that there is a price you can allow for over 13 years of primary and secondary education. And I’m not just talking about the basic school fees. Plus, being one of the largest household expenses, it only stands to reason that like your rent or mortgage, it really does need to be factored in to a family’s projected cash flow.