We will save $1,034,580 homeschooling our kids.
Let's do the math.
I've got five children aged 3, 7, 9, 11, 13.
The average cost of private school is $11,814/yr (Daycare-8th grade).
The average cost of private high school is $16,287/yr.
If we assume the average child stays home for the first year, then our children would have been in school for a combined 38 years already.
38 years @ $11,814 is $448,932.
As of this today, we've already saved $448,932 in school costs. In all we will save ~$708,840.
That's $708,840 before high school even begins!
High school will cost at least another $325K.
By the time my youngest has graduated H.S. we will have saved well over $1 MILLION.
This doesn't take into account rising private school rates, the added cost of other supplies, uniforms, gas saved to and from school, etc.
The real cost would likely be significantly higher.
It also doesn't take into account what putting all of that money into a high-yield-savings or another investment opportunity could render.
I get it. Homeschooling your kids isn't for everyone.
I wanted to share this information for those that may just be considering it as an option.
The best part? The other benefits of homeschooling far outweigh the financial win (for us).
Some of those wins include:
- More quality time together (including vacations when everyone else is in school... more savings, less crowded).
- The opportunity to choose your own curriculum and progress at the pace most suitable for each child.
- Setting your own schedule and routines. No need for doctor's notes. Unlimited un/excused absences.
- No homework horror stories (hours of homework every night, often useless busy work)
We provide opportunities for our children to think outside of the box, look at things from all sides, explore their specific interests.
There is a "freedom" about it that's hard to explain. I'm reminded of this on a regular basis in conversations with friends.
Oh, and again, you save lots of money in the process.
For those that are thinking "just go to public school."
Sure, I guess that is technically an option. It just hasn't entered the equation for us at this point. Our public education system isn't in great shape, especially in my home state (sad, but true).
For added context, I went to daycare, two private schools (in different countries), homeschooled, and two public high schools (different states).
I know the differences from experience.
If you're interested in home schooling and have questions about how to get started, post a comment and I'll give you my best.