Private school - what percentage of salary do you spend

[cluelessnewmum]

Am currently trying to work out whether we can afford private school without making our lives a misery.

We're lucky that for 1-2 dc we would be OK with fees. However, I'd ideally love to have a third dc, and the fees might be pushing it for 3...

If your dc are in private school, roughly what percentage of your take home household salary are you spending on fees?

Obviously will vary depending on your location, number of DCs etc but I'm trying to gauge when it starts to become a financially stupid thing to do, acknowledging everyone's outgoings are different too. But useful to get a yardstick from others.

Thanks for your help!

10% of joint annual salary, used to be 20% but then DD went to 6th form college

We have a very low mortgage and I can earn more (self employed). Have savings too to cover 3 years of fees. Full life cover and DH has £1000000 of cover through work.

I know this is a zombie thread, but it's interesting.

DD (state throughout, now at Oxford) just asked me how on earth some parents could afford to 'just pay' undergraduate fees, rather than their children taking the student loans. By the looks of things, sometimes the answer is 'Because it's much cheaper than school.'

Her contemporaries range from the noticeably rich to the 'how much for the bus fare round here??'

Still can't see how anyone affords overseas student fees, but then I've never needed to find out.

We moved to an area with very good schools and spent the money on dream holidays, fun weekends, every after school activity the DC wanted to do

and had no money worries. My DC went to good unis and now have good careers.