4 kids and private school

[WinkyWinkola]

at £10k p.a.

How much would you have to earn to send all of them and each of them, please?

I'm confused as to why this thread was started. 4x10k x1.5 and that's the gross figure you would need to add to your current salary, assuming you have no excess income left!

I'm always surprised at peoples reactions to how much other people must earn to afford such things.

FunnysInTheGarden ... Don't think you could find a private school for £10k pa

A number of the GDST schools have fees less than £10k pa

We pay from earnings. The cost for 3 children with sibling discount is 3 x 10k pa. I would then estimate extras cost approx £1K in total. Possibly a higher extras bill next year due to trips.

Yes, winky. Last year was the worst as we had them all in the system at the same time.

Next year will be tricky as DD is moving to a more expensive school, but this will also be DS2's U6 year.

Pedallleur,

Our eldest is in his first year at uni and he (finally) is not costing us anything, so we are £15k better off this year.

I am a firm believer in students choosing lucrative courses at reputable institutions and not being fearful of student loans. Our children have been brought up to know that their support runs out when they are 18.

I started this thread because I'm a bit of a chump with figures - hence my dcs don't go to private school!

And I was curious to know how much and the +++ it takes to privately educate four. I don't know about the extras either, you see.

We have 2 children in prep school and need to save £1600 per month from income to cover the fees and extras such as music lessons, uniform etc. We earn around £75000 gross between us and get no assistance from elsewhere. Not cheap but we feel it's worth it (both cathedral choristers) for the experiences they're exposed to.

Its very difficult to work out what is affordable and what isnt as it varies so much. Do you have a large mortgage compared to your income? Are you in relatively secure jobs? Do you both want snazzy cars, nice hols, big house, 3-4 children and send them to private school preferably boarding!

If you have other children to support from previous relationships you dont have a hope in hell unless you are earning £300K.

My 2 pence worth into this as people occasionally ask how we can afford it:

1. We both work full time - always have

1. We stopped at 2 children

1. We have no debt or expensive hobbies apart from the mortgage. We do live in a biggish house and run two cars but mine is a company car and DH has a 10 year old car that he has owned from new. It is part of the family!

1. We earn between us approx £220K gross

1. We have one DS at a £30k boarding school and one DS at a £15K prep school who will hopefully follow his older brother.

1. There is a 5 year gap between the boys

1. We had our children late in life

1. We had no children or maintenance to pay from previous relationships.

I think number 8 is key

I tend to agree with one of the other replies. If you are looking to educate FOUR children from 4-18 privately and you cannot work out how much you will need you will probably struggle. We have a large amount of equity in the house which is our back up and helps me sleep at night......

This is how we can afford it: (copied part from previous poster)

1. My dh works full time (I am a sahm)

1. We stopped at 3 children - we couldnt financially justify a 4th! (I do fear paying for 3)

1. We are mortgage free.

1. DH earns approx £200k, at 120k we felt confident we could do it. though the tax is the larger killer!

1. We have one DS at a £9k day school and 2 more to follow (one joining in september) our chosen boarding school is £22k, our eldest will of left by the time number 3 starts.

1. We had no children or maintenance to pay from previous relationships.

1. I have an inheritence and will use that if necessary.

Pretty much the same.

Started late in life. DS 18k pa, DD 14k pa (from September), no mortgage, large house, joint annual income of about 200k. We felt we took a risk 8 years ago when we transferred ds into independent sector (when dh was not earning what he earns now and I was part-time). We took the decision on the basis that there were options for girls in the state sector. Fortunately we have done OK because we got the state option and it has been a disaster and will have both at indy from September. For two 32k net per annum. Four boys at DS's London day school would cost circa 70k per annum net after all other living expenses have been found. We certainly couldn't do it but lots of families do.

What about university afterwards, too? The mind boggles.

Oops just read whole thread. Ignore me.

University is actually cheaper than many schools. £9k (next year) vs. £10k > £30k. Someone I know has a daughter at Chethams music school in Mcr. Costs him £23k pa plus a professional grade instrument (£5k) plus trips with the orchestra etc

Imagine how much wealthier he'll be when his dd graduates and has to fund her own life.

Would love to know where one can get a professional grade instrument for £5k!

It's a bassoon but it may have been s/h but of course the sky's the limit with instruments. Problem is being a musician isn't a great payer so she is never going to be well off but she has the talent so he has to do his bit for her.

why would anyone consider boarding school in this day and age???? mind boggles.

Surprised they allowed a 5k bassoon at chets. 5k tends to be around the cheapest student type bassoon. :(

In my idle nosy moments I do wonder how much our token rich friends must actually have to be able to send their two boys to private boarding schools (one of which is Eton), own polo ponies and hunters, have a flat in London and a cottage down here, a share in a ski lodge and all the bits and bobs necessitated by having all that.

I only get as far as "a lot" but they must be grossing at least £250K a year, I would think.

Yes - why do you send your kids to boarding school?

And whilst we're being nosey - what do you do to earn over £100k?

Lots of people earn over 100k - (some) lawyers, accountants, management consultants, headteachers, senior local government/civil service, not to mention many self employed people in a wide variety of sectors. If you own a profitable business you can easily gross 100k per year.

Polo ponies!!!!!!!!!!!!!! You are looking at serious money as you need more than one and a horse prob.costs the same as a car to run. Eton is £30k pa so the other school is prob.the same. Horses - £50 pw minimum each I would guess just to feed/maintain plus all the tack/kit/horsebox etc. Prob. double/triple the gross you think of.

I am making the assumption they own the flat in the London outright (the cottage here is rented) but you're right, the horses probably cost as much as the children.

You can be a good sales person and earn way over that....I know someone that earned £180k in sales.