Private School fees - how do you manage?

[Moneymoneymoneyitssofunny]

Considering private option for DCs (in next few years) but just curious as to how people manage their finances to ensure that school fees are paid for duration of schooling. Paying out of earned income alone seems risky to me in case of unexpected redundancy etc but we have no source of help from grandparents or other, just modest savings, so tell me - what do other MNers do? Remortgage property?save up in advance? have other source of finance such as family members to help? Use specialist financial planners who deal with school fee planning? I'd be interested to get some advice/ideas.

The whole system is a mess really though isn't it. I suspect postgrad education will become very much a luxury thing other than for the roles where it is compulsory such as law. I can't see how its affordable for the vast majority.

I have now as a result of this thread set up an account for school fees and will pay a small amount in each month as a buffer just in case the worse happens (although our fallback would still always be to sell the house).

The plan here is to treat University as simply an extension of school (and hope they chose a local university so that they can live at home!). I have to say though that makes me a bit sad. University isn't just about learning about a subject, its about growing as a person and learning life skills such as budgeting, independence, responsibility, self motivation, what happens when you drink a whole bottle of southern comfort….. Living at home impacts on that significantly.

Snap Roguedad. Very little buffer and just hope will all be ok!

The way I look at our postgrad pot, is that if he doesn't want to do it, DH and I finally get to go on holiday to somewhere amazing spend something on ourselves!

cooki It means we can take dc out at any point and will only be liable for fees up to the end of the term they are in. So I could say today that dc will not return after Easter and would only pay until Easter. The standard contract would mean I also have to pay for the full summer term i.e. one term's notice.

We struggle (even food bills). Absolutely no savings but have public sector pension schemes. As a family have circa 500-600 pounds a month to live off for food/cloths/entertainment/presents for birthdays etc.

Pay monthly by earnings. Helped that did got a 30% schol'. Have savings if needed, life ins (lord forbid..) And a very small mortgage so could borrow on that if the shit hit the fan. I still worry about it though, seven years is a little scary although dh doesn't seem concerned

How? Only had two kids. Went back to work when they were 6 months and had them in nursery most of salary going to childcare and mortgage Progressed career studying evenings when they were sleeping .Then local primary. No expensive habits except a niceish holiday each year. and wine.

Now..... DS1 started Sept Mortgage should be cleared by the time DS2 starts. Have equity in house could use if it hits the fan . Reached much better point in career so earn more, can be more flexible and be there after school and in demand for extra paid work. I always had the theory that the time and input is more important from 11 onwards only based on my own experience of growing up in a big family. That's when the help was needed and the going off the rails began. Also didn't believe the naysayers who said they'd never get in to a good private school from a state primary.
Disclaimer : it has been said I could organise myself up my own arse and DH is half and half with all the work and childcare

I simply don't go on holidays