If you have decided to put your kids into private education, it is important to think about the financial impact in terms of costs in detail.
There are a number of ways of funding private education. These are:
- Paying education fees and costs from taxed income.
- Vest a one off amount to allow for education in future years.
- Utilizing existing investments.
- Set up some form of policy to save regularly.
-You can use some of all of these methods to fund the costs of private education.
Pay school fees out of Taxed Income.
Settling fees and costs out of taxable earnings can cause troubles if not managed correctly. Capable school fees planning can help you increase your cash flow and make the costs easier to afford.
How can a financial adviser help?
A good financial planner will take into account the school’s fees, your attitude towards making investments, taxation rates for you and family members, whether you have useable assets or capital and your views towards funding. These are just a couple of components financial adviser might take into consideration when evolving any plans for paying fees.
Want to find out more info about our advisory service.
Whether you are looking to set up a regular monthly investment, fund out of earnings or put into place a lump sum to cover future expenses and costs we can help you.
Our experienced independent financial adviser will provide advice and guidance. He will talk over with you, the easiest choices for you and your family.
To speak to us in more depth about our service please contact us.
Consilium Asset Management are based in Bristol and provide independent financial advice on school fees planning.
This article should not be considered advice
