Mortgage Rate Rises

@BongoHunter I have to say i don't understand how people can stomach private school costs. You've already paid for your share of schooling out of your income tax!
Myself and one brother are engineers and the other brother is a medical Dr (both brothers went to Cambridge University too) so state school does work put sometimes :D.
7k per year would make quite the difference to general quality of living for the family!
Just my opinion of course but oof that's some serious cost and this is a mortgage thread :).
 
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OpenToSuggestions said:
@BongoHunter I have to say i don't understand how people can stomach private school costs. You've already paid for your share of schooling out of your income tax!
Myself and one brother are engineers and the other brother is a medical Dr (both brothers went to Cambridge University too) so state school does work put sometimes :D.
7k per year would make quite the difference to general quality of living for the family!
Just my opinion of course but oof that's some serious cost and this is a mortgage thread :).
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I had never supported it myself previously, I went to a state school and come from a low income background and always thought it was a load of rubbish as I'd managed to do ok in life.

But, my other half was lucky enough to attend a private school - and I now see some significant advantages. They get to travel way more than you'd expect, the sports and outdoor type stuff is a much bigger proportion of the week, and the connections they make offer significant advantages once hitting adulthood. My other half has had an incredibly quick rise through her chosen industry - and though she is very talented & smart, her education, the connections she made there, and the "posh" elements - such as regular attendance at formal events have certainly helped her in a significant way.

So I believe it offers advantages - especially if you don't live a catchment area for a decent state school.

Her connections through her education have even benefited myself - I've been invited to state events in several countries, and made connections that would typically be out of reach for somone like me.

The "old boys (or girls in this case) network" / nepotism is very real, and very effective at providing advantages that are out of reach to many. You still need to be clever to get anywhere - but its a really decent leg up in a very competitive environment.
 
ProStreet said:
This is what I don't understand.
How do people afford kids on average salaries. It seems impossible. I mean without being in debt or living paycheck to paycheck.

I'm on a very high salary compared to most and still don't feel like I can afford them.
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We have two kids and are both on average salaries when combined. Although compared to all the metrics I look at we are in the top 25% although it doesn't feel like it! We work opposite shifts and have done for the past 5 years. The Youngest has hit nursery now so the missus is looking for a new job where we can have more time together.

To have kids and still maintain a decent standard of living you have to get creative. 9-5 Mon-Fri will just not work unless you got Grandparents to fall onto. We had our first at 22 and our second at 33. I worked nights for 5 years in my mid to late 20's.

Obviously we do not live in London but we bought our house at 23 years old. (Large 3 bed detached with garage and generous gardens) (Mortgage to be finished by 40) We also have double digits in savings so not living paycheck to paycheck. We are however very frugal with how we spend our money. I do all the D.I.Y, we entertain at home instead of going out, go on holidays during term time. I would say in a good month we end up with 1.5k disposable to either put into savings or spend on ourselves.

I had people at work who were clearing 20k more than myself as a couple renting and asking people to help them out because they would constantly be living on take outs and going out on the lash every weekend.
 
adam cool dude said:
We have two kids and are both on average salaries when combined. Although compared to all the metrics I look at we are in the top 25% although it doesn't feel like it!
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adam cool dude said:
I would say in a good month we end up with 1.5k disposable to either put into savings or spend on ourselves.
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You are quite well off... Consider that, in a good month, you can put enough away in savings that someone on NMW doesn't even receive in Net wages for a 37.5hour full time job.
 
OpenToSuggestions said:
@BongoHunter I have to say i don't understand how people can stomach private school costs. You've already paid for your share of schooling out of your income tax!
Myself and one brother are engineers and the other brother is a medical Dr (both brothers went to Cambridge University too) so state school does work put sometimes :D.
7k per year would make quite the difference to general quality of living for the family!
Just my opinion of course but oof that's some serious cost and this is a mortgage thread :).
Click to expand...
Isn't private school more like 7k a term, plus all the additional costs?
 
My mrs went to a private school and she said she hated it. They failed to pick up on her dyslexia, and wanted to move her back a year. She ended up moving to a state school, much preferred it, and they picked up on her dyslexia straight away. It is considered to be an excellent state school though.

Not sure we will put our boy in private school, £7k year seems cheap compared to some figures I've seen.
 
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ChrisD. said:
My mrs went to a private school and she said she hated it. They failed to pick up on her dyslexia, and wanted to move her back a year. She ended up moving to a state school, much preferred it, and they picked up on her dyslexia straight away. It is considered to be an excellent state school though.

Not sure we will put our boy in private school, £7k year seems cheap compared to some figures I've seen.
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Yeah more like £7k a term minimum. And once VAT goes on, RIP.
 
What! Wait!!

People say they don't want kids (due to cost) but they are happy with pets! :confused:

When I see my friends vet and pet insurance bills over years! :eek: It would be cheaper the have kids.

Even with the cost of living going up, its still the poorest people in the UK who are having the most kids. How are they getting by!?!?!?!
 
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neocon said:
Isn't private school more like 7k a term, plus all the additional costs?
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It differs from school to school and age doesn't it?

Our daughter is in nursery and whilst it's still a few years away for her to start school we've started looking at some costs to get an idea of what it would be like if we did go down the private school route. Around where we live it looks to be around 3-5k per term for the 'prep' ages and then up to 5-7k as they get older.
 
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