Good people of NL please with the present hardship and economic downturn of the nation I humbly seek ur advice.

For a couple with two kids who unfortunately only one partner shoulders the responsibility and only a salary earner of 110k how much of a budget nursery/primary school should the kids attend considering the income.

Presently my two kids attend a private school of 60k per term aside text books so I cough out roughly 150k a term for the two of them including text books.

Is that too much considering my salary?
Are the fees OK for my salary?
or should I withdraw them and go for a lower school.
Range of 10k, 20k, 30k, 40k 50k? Ur opinion plz.

Ur counsel really matters cos things are not easy these days. Prices of every commodity keep rising but salaries remains d same.

Don't spend all your credit. Do this, set aside an investment fund of 20,000 Naira monthly. Every month that will yield for you in 12 months. Look for reputable organizations you can invest in.

Now as you do this monthly, in a year time, the investment will give you monthly returns and give you great sense of freedom in a year time. Look for investment opportunities that will avail you 100% annually. There are many, check the investment section


Manage with the school fees for a year, after that you can upgrade their schools

Imagine Investing 20,000 Naira every month now, it means April 2021,every month from then, you will get 40,000 Naira every month. Thus will be a passive income generation strategy for you and help you in the long run.


Trust me. I'm a walking " god "

I get ur point madam.

Education is not cheap. I wouldn't advice u to downgrade ur kids education. As long as ur kids are doing tremendously well plz keep pushing.

It's unfortunate that the load is on u, However, u can downgrade to 30k, 40k school for d carrying capacity of ur salary pending when things are colourful again.

U r doing well, regardless.

You can look for a cheaper school, unfortunately this depends on the state and area you live.

You are paying almost 20k per month per child which is 40k from a 110 k salary.

Is 70k enough for other expenses like rent, food stuff (crazily expensive these days) utility bills , savings and every every ?

If you can get the one of 100k per term( including books) or lower for both of them it would be nice.

So to answer your question, the fees are not okay considering your salary.


The Lord is your strength.

Funmilehot:
Good people of NL please with the present hardship and economic downturn of the nation I humbly seek ur advice.

For a couple with two kids who unfortunately only one partner shoulders the responsibility and only a salary earner of 110k how much of a budget nursery/primary school should the kids attend considering the income.

Presently my two kids attend a private school of 60k per term aside text books so I cough out roughly 150k a term for the two of them including text books.

Is that too much considering my salary?
Are the fees OK for my salary?
or should I withdraw them and go for a lower school.
Range of 10k, 20k, 30k, 40k 50k? Ur opinion plz.

Ur counsel really matters cos things are not easy these days. Prices of every commodity keep rising but salaries remains d same.

I once had a similar challenge. My wife was of the view the kids attend better schools and she had the support of some of my friends but I came back to myself and reasoned that 1. financial provision is solely on my head 2. My mom once told me how I was pampered with good schools, foreign clothes and food as a child 3. I struggled through the university cos I didn't meet any of the cars or good life I was told about cos things turned out bad for my dad who was the bread-winner. 3 I put the idea of a better school on hold and decided to focus on making secure investments my priority. It is better to make do with a not so good school today but afford to attend a world class university in future.

take them to a cheaper school that is also good academically.

Take them to a cheaper school and back it up with a lesson teacher.

Hmmm let's see

If you earn 110k monthly(maybe sometimes not paid as at when due, maybe 5-10days into the new month I dunno, depends on where you work)

60k per term for a child, you have two so 120k
A term = 3/4months
3 terms make an academic session/year;
In a session you pay 360k for both of them excluding textbooks & exercise books which are paid once i.e in the first term
Now, if you pay roughly 150k for 1st term which includes their textbooks, that's 30k worth of books for both of them;
Add 30k to 360k, you spend 390k every academic year

You earn 1.3M gross;
For every 330k, 120k goes to kid's sch fees
You have roughly 210k split into 70k monthly; yes I calculated it per 3months cos the last month is usually just about few weeks in which is basically revision/exam week aaand you must've completed payment before then else your wards won't be allowed to write their exams..
Every academic session/year runs from September - July.. not to talk generally about how crazy things get in Dec, Jan, Feb up until March

That's quite alot considering your salary.. I dunno how you cope with rent, feeding, electricity & utility bills, plus even unplanned expenses.. I'll suggest you do your due diligence on schools within your area/location, I'm sure you would get one with lesser fees(tuition of atleast 20k for primary sch pupils, with lesson fee, maybe ptf, total ≤30k per term for a child). I dunno what classes your kids are in but I'm guessing they're not up to 10, maybe 3-8yr olds.. Books are pretty expensive, you'll pay for new school uniforms, sports wear and all for a start too.. I do hope you get it all figured out soon and may God grant your partner a good job so you both can pull funds together to settle bills.

115k and you're the only one shouldering all the responsibilities? You're living way above your means ma'am. Cut down a bit.

Withdraw them from there and look for a cheaper school that still got standard. You'll get, trust me. And since their foundation is already established in a standard school, no problems.

Now, I'm a teacher and I can tell you there are cheap schools that still have standard in terms of the quality of teaching. So It's not really about the expensive schools most times.
I take children ( private lessons) from saint savior's with 450k school fees and children from mushroom schools too, and I see what they do. No much difference. sometimes the mushroom school pupils do better academically because the big schools don't believe in bombarding their pupils with so much brain-tasking and challenging work while their counterparts do. So what are we not saying

Also try and ginger your hubby to get something doing since it's beginning to tell on your finances seriously. The responsibility is on both of you. Don't keep quiet and be doing the woman is good. Men are not appreciateful. Forget the nice man he's acting now. Once he too begins to earn, let it not shock you though.

Take them to a more affordable school.

If these kids are still in primary school, trust me, you can greatly augment their education by being deliberately involved.

Check out their assignments, give them other IQ-building tasks to carry out. Find educative channels and inculcate it into their routine.

I'm all for quality education at whatever cost... but only as much as you can afford.

You will have to go lower With the amount you earn monthly,you should do N20K-N30k schools Do your due diligence and search out a good one in that range.

AsherAmari:
115k and you're the only one shouldering all the responsibilities? You're living way above your means ma'am. Cut down a bit.

Withdraw them from there and look for a cheaper school that still got standard. You'll get, trust me. And since their foundation is already established in a standard school, no problems.

Now, I'm a teacher and I can tell you there are cheap schools that still have standard in terms of the quality of teaching. So It's not really about the expensive schools most times.
I take children ( private lessons) from saint savior's with 450k school fees and children from mushroom schools too, and I see what they do. No much difference. sometimes the mushroom school pupils do better academically because the big schools don't believe in bombarding their pupils with so much brain-tasking and challenging work while their counterparts do. So what are we not saying

Also try and ginger your hubby to get something doing since it's beginning to tell on your finances seriously. The responsibility is on both of you. Don't keep quiet and be doing the woman is good. Men are not appreciateful. Forget the nice man he's acting now. Once he too begins to earn, let it not shock you though.

Good advice you've given but you come spoil am with the bolded.

BlueSparks:
Don't spend all your credit. Do this, set aside an investment fund of 20,000 Naira monthly. Every month that will yield for you in 12 months. Look for reputable organizations you can invest in.

Now as you do this monthly, in a year time, the investment will give you monthly returns and give you great sense of freedom in a year time. Look for investment opportunities that will avail you 100% annually. There are many, check the investment section


Manage with the school fees for a year, after that you can upgrade their schools

Imagine Investing 20,000 Naira every month now, it means April 2021,every month from then, you will get 40,000 Naira every month. Thus will be a passive income generation strategy for you and help you in the long run.


Trust me. I'm a walking " god "

One of the rules of investing is to only invest money you can do away with...not to use your daily living expense money. That's bad advice

CareerBegger:
Take them to a cheaper school and back it up with a lesson teacher.

Ur head is 100% der

LadyTiannah2:
One of the rules of investing is to only invest money you can do away with...not to use your daily living expense money. That's bad advice

The rule of savings is how ever little money can be saved. That's why your house ends in your tummy and slippers

BlueSparks:




The rule of savings is how ever little money can be saved. That's why your house ends in your tummy and slippers

Read the smart money woman, you'll see that what I said is valid

LadyTiannah2:

Read the smart money woman, you'll see that what I said is valid

Read. Lol


My dear. I've setup many businesses and manage many business to success. I've mentored of 300 confused Nairalanders who now have clear directives in life, experienced improved finances and are doing good. People thank God for meeting me on this forum.

I won't seek validation not I'll post screenshots

BlueSparks:



Read. Lol


My dear. I've setup many businesses and manage many business to success. I've mentored of 300 confused Nairalanders who now have clear directives in life, experienced improved finances and are doing good. People thank God for meeting me on this forum.

I won't seek validation not I'll post screenshots

I don't give a hoot who or what you are. All I'm saying is that, it's unwise to invest the money meant for their monthly upkeep; a smarter thing would be to increase the amount of income first, before considering investments. Will you feed them if she invests the money meant for their food and utilities?

LadyTiannah2:

I don't give a hoot who or what you are. All I'm saying is that, it's unwise to invest the money meant for their monthly upkeep; a smarter thing would be to increase the amount of income first, before considering investments. Will you feed them if she invests the money meant for their food and utilities?

Nah

Won't play this game


Enjoy

BlueSparks:




Nah

Won't play this game


Enjoy

Cos I'm right. Goodnight

Funmilehot:
Good people of NL please with the present hardship and economic downturn of the nation I humbly seek ur advice.

For a couple with two kids who unfortunately only one partner shoulders the responsibility and only a salary earner of 110k how much of a budget nursery/primary school should the kids attend considering the income.

Presently my two kids attend a private school of 60k per term aside text books so I cough out roughly 150k a term for the two of them including text books.

Is that too much considering my salary?
Are the fees OK for my salary?
or should I withdraw them and go for a lower school.
Range of 10k, 20k, 30k, 40k 50k? Ur opinion plz.

Ur counsel really matters cos things are not easy these days. Prices of every commodity keep rising but salaries remains d same.

You know that you have only one source of income, you have to adjust somethings because cist of living is higher than salaries now

First of all, during long vacation, change school for them to school's of below 30k

Let your wife get a teaching job to support you

Your house rent must expire and it has to be paid

Help yourself, forget about what people will say

You are the one that bares the burden