Finances and schooling

1 to 3 years

Created by
Updated on Jul 06, 2015

Hi everyone, I have a question with regards to our child's schooling. We have a daughter and she is our only child. Can someone help me in understanding how much should we spend on her school. She will be starting her school from next year. As every parent we also wish to do our very best for her. But I don't even want her to be dependent on us for everything in  life. I want to understand how should we plan the budget for her schooling. As of now she is in a daycare and people think we are spending handsome amount for daycare , the fee is 12k per month. Since she is our only child I don't think much about expenditure, my priority is also good quality things for her whether toys or books. Now with regards to school, everyone around is of different opinion and I really need help. Is there any percentage upto which we should spend on schooling etc. It would be great if some experienced people can help us. Thanks Khushboo

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| Aug 10, 2018

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| Jul 10, 2015

thank you Vibha, your comment is really appreciated.

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| Jul 07, 2015

Dear Khushboo, I too went through the same dilemma with my child. I did a lot of research on schools. The cost mainly varies according to the kind of school. Most of the new age schools are more development oriented and cost more. Public schools or traditional schools are more academically oriented and average fees is not very taxing on the pocket. You will need to decide on what you want for the child. Meals or no meals is another factor you will need to look into. From our calculation the cost of school on an average should not be more than 10% of your annual income. It makes budgeting easier as most of the schools charge on quarterly basis. Hope this helps you

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| Jul 06, 2015

Hi khushboo You may ask this to an education expert. Here is the link to that-

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