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Original poster

Do you use one salary to pay for private school?

86 replies

TurkeyDinosaurs · 27/01/2017 15:28

We're not on a high combined income £65k, but we really want to send our 2 dc private in secondary school. I was wondering how common it is for a family to use almost all of one person's income to do this. For example, one income is £30, other is £35 and 2 dc at private would be £24k pa. It would mean we'd be living on a household income of £41k obviously. Does anyone do this and does seem like a crazy sacrifice? Can you afford any sort of holidays or days out on this? I went to private so I want to give my children the same ideally.

OP posts:
Wimbles101 · 27/01/2017 15:56

Sorry, slight reality check here - we have a combined salary of a lot more than that (details not to be revealed!) and struggle to have two at private school - we do not have a lavish lifestyle - old car, holiday once a year to somewhere in the UK or France...small mortgage and that's it. How on earth do you send two kids to private school on £65k?!
I wouldn't do it tbh - think about doing one at a time is my honest advice.

Original poster
TurkeyDinosaurs · 27/01/2017 15:54

Yes 65k pre tax. It would be tight and there would be that worry if one of use were to be made redundant. But I feel it's doable as long as we're prepared for no increase in living standards for a while.

OP posts:
Bluntness100 · 27/01/2017 15:52

It never occurred to us. We put a percentage of our salaries into th joint account and that pays for everything, inc all the years we paid school fees. What was left was ours to spend as we pleased. Both our salaries were much higher than the school fees but no one person was responsible.

ToastieRoastie · 27/01/2017 15:52

As PP asked - is £65j your pre-tax earnings or after tax and NI taken off?

Why don't you use the MSE budget tool to see how much disposable income you have left after mortgage/rent, utilities, groceries, car, car tax/maintenance, travel to work, essential budget for school uniform etc etc are all taken off? Then you know how much of a chunk private fees will take off the actual disposable income you have.

We can't answer your question as we don't know how much disposable income you have.

Thisdoesnotgeteasier · 27/01/2017 15:52

And school fees will likely rise above inflation every year while most people's salaries are not these days.

It leaves no room for error - what if one of you lost your job? Do you have a large savings cushion?

We are currently considering private v state for our eldest (also got 2 kids). Household income is significantly more than £65k and we still question the wisdom of the expenditure. Is your state alternative all that bad?

Wilywizard · 27/01/2017 15:50

So take home for both is about £4200? Then 2k a month for school fees.

Do you have housing costs etc? I can't see how this is achievable unless you have very few other outgoings.

Wilywizard · 27/01/2017 15:48

Yes we do but I would not be able to do it on such a tight budget.

Thisdoesnotgeteasier · 27/01/2017 15:47

Is your £65k pre tax earnings? If so £24k of school fees sounds like an awful large chunk of your disposable income. Do you have a mortgage and other fixed outgoings?

It sounds crazy to me.

Original poster
TurkeyDinosaurs · 27/01/2017 15:38

Wow notthrow *I'm glad to hear someone else in the same position. Are you able to save for holidays? If so, are we talking UK, Europe or beyond? Do you feel skint -- we are just imagining that staying at this sort of money means that our standard of living is going to stay the same for many year but that's a sacrifice we're willing to make.

OP posts:
Original poster
TurkeyDinosaurs · 27/01/2017 15:38

Wow notthrow *I'm glad to hear someone else in the same position. Are you able to save for holidays? If so, are we talking UK, Europe or beyond? Do you feel skint -- we are just imagining that staying at this sort of money means that our standard of living is going to stay the same for many year but that's a sacrifice we're willing to make.

OP posts:
NotThrowAwayMyShot · 27/01/2017 15:34

Yes, we do this. I earn £30,500 & dh earns £29,500. School fees for two children are £22k

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