What’s the cost of homeschooling a child? Is it $100 or $900? Or could the cost run into thousands or probably more? One reason why some choose homeschooling over educating their children in a public school has to do with the cost. They consider it a cheaper alternative to public school education. But wait a minute. There’s a cost to most things and homeschooling is no exception.
From the acquisition of curriculum to paying for activities and supplies, those who want to homeschool should plan to avoid frustrations. Apart from what we’ve mentioned above, there are still costs like computers and the internet, textbooks, technology, and software, etc. And if you have several children, your budget will be higher, of course.
So, how do you save money for homeschooling? We will consider a few ways you can do so.
1. Monthly Savings
If you’ve already calculated how much it would cost to home school, you may want to inform your bank to deduct a certain amount of money by standing order. The amount doesn’t have to be so much.
2. Insurance Policies
Renowned insurance companies have education policies that cater to individuals who want the burden of educating their children lifted off their shoulders. Why don’t you visit a financial advisor to see what they have to offer?
3. Unit trusts and Other Financial Options
Unlike insurance policies where you only access funds after a longer period, say five years, unit trusts allow you to access your investment easily. Whenever you run out of writing materials, or you need money for out of home activities, unit trusts allow you to access your funds at short notice.
4. Monthly Budget
Once you know how much it would cost to homeschool your children, you may choose to set aside a specific amount of money each week or month to go towards homeschooling your children. Just make sure that you are consistent.
5. Get a Job
It is a good idea to plan early. Having an income that will go into your child’s homeschooling account will free you of unnecessary stress if you choose to stay home and homeschooled them yourselves.
It is important to note that you need to plan early. When your child is a toddler, start your planning. You’ll thank yourself for this. At Outstanding Outcomes Home Tuition, we not only offer you great tips on how to save for your child’s education. We have tutors who are ready to impart knowledge to your children wherever it’s convenient for them. Whether it’s at home or your workplace, we are at your beck and call. Why don’t you reach us to discuss your child’s homeschooling schedule?