Can we do it? Secondary private school fee and other expenses, and budgeting

[evademama]

Hello, I hope it's okay to post here—I would really appreciate some perspectives if possible.

DD is an only child and currently in state reception. Our catchment state secondary school is underperforming, and since we do not want to move in the foreseeable future as we like the area, we are hoping to send her to a private secondary school (including sixth form if necessary). We also prefer a private secondary education for DD for experience.

We are not very high earners, with a combined income of £130k (I know we are fortunate compared to many, but DH puts anything above £50k into his pension atm, and we have a high mortgage, so our disposable income is not huge). After mortgage, all bills, childcare and holidays, we can save 2k per month. We are overpaying our mortgage atm and hope to clear it in 10 years, but if we send our daughter to a private secondary, we are happy to overpay less.

I am in my late 30s and work in the public sector, while DH (early 40s) is in a not very profitable industry, though his job is quite secure. Our earning potential is unlikely to change significantly in the future, and we do not receive financial help from grandparents. We live a modest life and are not into luxuries.

We would like to start saving and budgeting as early as possible. For reference, we live in the Northwest, and nearby private schools charge around £20k per year (including VAT) from 2025.

I would really appreciate any advice on the following:

1. On average, how much extra on top of school fees should we budget? Would an additional 20% per year be enough to cover school trips, lunches, uniforms, and other expenses?
2. How much do school fees typically increase per year? Is an annual 5% rise a realistic estimate? If it is 10% annually, it would be a big stretch for us.
3. Do you recommend any insurance for school fees? Currently, we have life insurance for DH, and I have a death-in-service benefit through work (though due to a health condition, I find it difficult to get life cover).
4. Do you have any recommendations for savings accounts specifically for school fees?

Thank you so much and sorry for such a long post.

I can’t answer the question, having no experience of fees, except to say two things. One is that it’s never just the fees, it’s all the extras. The other is that in six years time, your local secondary school may be very different.

1. On average, how much extra on top of school fees should we budget? Would an additional 20% per year be enough to cover school trips, lunches, uniforms, and other expenses?

Answer: For Yr 7 uniform cost us 1K incliding some items second hand but currently Yr 8 and not had to replace anything as all v good quality. Bus is £500 per term, lunches and all extra curricular included in fees. Curriculum related day trips included in fees, all other trips eg skiing are optional and no expectation to partake.

1. How much do school fees typically increase per year? Is an annual 5% rise a realistic estimate? If it is 10% annually, it would be a big stretch for us. Answer= budget for 10% fee yearly increase PLUS 20% VAT. They way anything lower is a bonus

1. Do you recommend any insurance for school fees? Currently, we have life insurance for DH, and I have a death-in-service benefit through work (though due to a health condition, I find it difficult to get life cover).

Answer = yes i think its always a good idea but some schools offer it as stamdard, check with them

1. Do you have any recommendations for savings accounts specifically for school fees?

Answer = we split half savings into cash ISA + half into S+S ISA

Except many schools don't have many extras, especially in Yr 7-9

Would it not be better to move at least to the catchment area of a better school, not entirely away from the area you like? You've got a good few years to plan this if your child is in reception.

Hi op, my DC are at second tier public school in the south.

Kitting my DC out in first form was £700 each for the full games kit, blazer, sports bag, coat etc.

BUT DD literally wore the same thing all the way through and never grew out of it. Also you'll never need to buy the whole lot again in one go. She's now in 6th form so in vinted items for her 'suit'.

Trips are generally optional. £200pa for theatre/museums would do it.

10% would be a sensible fee increase budget.

thank you very much, that is very helpful, especially schools many have insurance for fees in place.
If you don't mind me asking, how many years fee you save in advance?
many thanks.

We saved 2 and a half years but VAT is going to eat through it. Now wish we had saved 4 as looks like we won't be able to do Yrs 12+13 but they are only school to offer her potential A level choices

Thanks. We only moved to the area three years ago and have put in a lot of effort and money to make the house the way we like it. Plus, the area is really nice and considered upmarket. Plus DD has made some really good friends from her primary school. The only downside is the local secondary school; it's not the worst, just about average. So, moving will be our last resort.

Many thanks for this, incredibly helpful! Will you have to pull your dc out? Yes, the VAT is such a pain... Anyway, i hope it works out well for you.

Thanks. It’s not cheap, but it’s good to know it can be used for a long time.
10% is probably the maximum we can afford..

In our area a lot of the independent secondary schools require an entrance exam and assessment day - consider whether you will need to factor in tutoring in the run up to entry. If you don't want to do that, are there feeder prep schools that might be useful to go to.

The Independent School Show (https://schoolsshow.co.uk/) has a big show in London and talks a lot about how to find the school for you plus what they think fees are going to do and they have their presentations on youtube which might be a good place to start.

Entrance exams range, perhaps £180- to £300.
Joining fee: Ours was £500, but others we looked at were £1000 (get this back when they leave).

£5 per day lunch (compulsory).
Price rises approx every 2 years for us.
Bus if you need it - perhaps £500 per term.
GCSE exams £300 - £500.
Trips - some pgl, so same as other schools. Some further afield, but not compulsory. Paris or Barcelona for example - £700. Barley was over £4k (mine not going on this one).
Uniform: Blazer over £80, everything else not unreasonable, and the schools generally have second hand shops.
We pay for each term - so 3 payments per year.

And suggested reading list, study books on top.

If you are able to save £20k per year for the next five years you will have enough to offset roughly half your fees by the time your DD starts secondary school, which should come within the £2k pm you calculate to be possible. You are likely also to be able to reduce child care expenditure.
This sounds doable if not easy. As pp have suggested, in 5-6 years your state options may have risen in quality, in which case you could have a useful nest egg. And with a bit of luck the iniquitous VAT policy will have been scrapped.....

If you have any selective schools in the wider area, I would take time to look up what they select on and what their requirements are. Some offer things like music aptitude places which might make it worthwhile to start your child on an instrument sooner rather than later.

many thanks. Yes we can save 20k per year without impacting our current lifestyle and financial arrangements. Will do it for the coming years hopefully things get better.

Really?. Uniform, sports, trips, music...?

Thanks, yes we do have two independent co-edu schools nearby, one walking distance, one 10-15 minutes drive. One used to provide very small music scholarship only worth a couple of grands per year. But we will look into it.

All sport and music included in the Indy schools around here. I have said we spent 1K on uniform for Yr 7 but so far haven't had to replace anything.
Day trips linked to curriculum are free, longer leisure trips are optional but in Yr 7 it was only skiing which most people don't go on. 1 trip in addition to skiing this year to France costing £500.
So yeh not all schools have long lists of expensive extras. Each indy school is different, you can't generalise.
At DDs school the only regular extra is transport ie school bus. Lunches also included.

Can I be nosey and ask more about your income? You say ~£130k between you. How much of that is yours? Husband put all of his above £50k into his pension, which could be a lot as AA charge only kicks in at £60k currently, but is your pension equally healthy?
Are you proposing to try and save the money in tax free cash ISAs? The chancellor is considering reducing the limit to £4k each year rather than the current £20k.
It sounds like you may have enoigh time to save quite a bit but what if you have a second child?

My son’s school includes lunch, day trips and all sport in the fees. We have an excellent second hand uniform market with loads of good quality donations where no piece of kit costs more than £15, I should know because I run it. The money raised helps fund bursaries.

Thanks. We decided not to have more DC as we are happy with the only.
130k is pretty much split evenly between myself (60k) and DH, despite him earning a little more than me. I am fortunate to have a DB pension, so I should be okay when I retire. DH has a DC pension, and his employer contributes the minimum, so putting everything above 50k is not extravagant.
We will probably save in an ISA for now. If the limit is lowered, we will likely overpay the mortgage in a lump sum but will try to keep two years' worth of fees in savings. Things might change in a few years, but we are risk-averse, so we would like to plan ahead.

My kids extras are lunch £300/term which is optional anyway. All sports/clubs are included. Uniform initially outlay approx £500-600 including £100 blazer. But since then I have tried to buy everything from second hand shop when items have been available. Absolutely no snobbery at all about this and it's almost bragging rights to get a great item from second hand shop these days.
Overseas trips can be pricey but of course optional. Particularly the sports tours if your child is sporty.

Another thing to consider if your school has a fees in advance scheme as if you have the money saved, you may be able to get a small discount paying upfront for a few years or even their whole education. It worked out approximately 10% less over 7 years.