I just had a very interesting discussion about money with my partner not so long ago. He is the only guy on earth with whom I can discuss this incredibly taboo topic of sex money! We both know each other’s salary, bonuses, net worth, debt level, etc. We don’t judge and simply share.
Sometimes it is quite a relief as I couldn’t tell anybody about my financial situation (besides you guys, but it’s not like a real face-to-face discussion!).
I was telling him how my saving plan was going to fund my children’s private education. I opened a TFSA last year and started saving with a modest $50 every 2 weeks. This year’s goal is to increase it to $150/2 weeks to make sure I have 2 years’ worth of private school at the time the eldest child starts. Even then, we made the calculation and I will be in the hole by $7,500 once the second kid finishes high school. Yet, I still have the third one to fund!
In my opinion private school is not a luxury. For me, it’s like saying that education is a luxury. That getting a good diploma, a good job is a luxury. For me, private school is mandatory (oh boy… I expect some serious discussions now 😉 ).
From what I can see at elementary school in my neck of the woods, is that our system drags everybody down. Good students are left aside with no benefits but to correct the work of others. In other words; they work for free while the teacher has less work on his/her shoulders. We focus on children with problems (behavioural or cognitive) and I’m totally okay with that. The problem is that while we put the focus on children who need help, the good students are stuck to their chairs waiting. It happened to me when I was in school and I see it happening with my kids now.
I also have the chance to compare what my children learn at school with what one of my friend’s children learns at a private elementary school. Both our sons are in 3rd grade. While mine has 1 hour of English per week, the other is already able to keep a simple conversation in both English and Spanish. He is as good in French as my child and has learned two other languages at the same time. He plays more sports, does more math, more of everything. This is why I can’t afford to let my children miss out on private school once they reach high school.
I attended both public and private school when I was a kid. I did elementary school in a public environment (actually went to 3 different schools since my parents moved often) and completed high school in a private institution. The funny part is I didn’t want to go to private school. All my friends were going to a public school nearby and I had to take the bus and go to this unknown environment.
All that for what?
A better education my parents said.
The private school was okay but I wasn’t in love with it either. To be honest, I stuck to the point that my friends weren’t there and as a teenager, I didn’t care about a better education. But after a few years, I realized something: this is not only about a better education.
I was able to compare what my friends were doing at public school versus what I was doing at private school. The difference was huge!
We had more resources (brand new gym, new computers, a 400m trail, etc)
We had more projects (young entrepreneurs, theatre, improv, elite sports, etc)
We learned a lot more (I had the option to attend higher level math class, physics, English, Spanish, etc)
People were motivated (we didn’t have any dropouts hanging around, disturbing the class)
In other words; the public school has everything the private school had, but the private school had it better on all points. I would have been pretty bored to go to a public school as the system is the same as in elementary school; they focus on the problems and let the good student wait in their seats. I think school should be more fun than that!
Ironically, my children will follow the same path that I did: public school at first and then private next. I just can’t afford elementary private school (6K per kid, so 12K/year…). But I can plan for high school. Since I can’t use money from my RESP (Registered Education Saving Plans are for post secondary school), I need to find the money elsewhere. In the upcoming years, I’ll have to focus on that and probably reduce my spending elsewhere.
I’m not a fool either. I know that private school won’t guarantee my children good jobs in the future. They can still dropout and hang around in a park. But there is one thing I know; I’m going to give them a full deck of cards to play with. It will be up to them to manage and do something with it.
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