August 27, 2010
Planning for School Fees
If you have made up one’s mind to put your children into private education, it is important to think about the financial costs and implications in detail.
There are many ways of funding private education. These are:
- Paying admission fees and costs from taxed income.
- Vest a lump sum to allow for education in the future.
- Utilizing existing available investments.
- Establish some form of policy to save regularly.
-You can use different combinations of these methods to fund the costs of private education.
Paying school tuition fees out of taxable Income.
Paying fees out of taxable earnings can cause problems if not handled right. Good school fees planning should help you improve your cash flow and make the costs more easily affordable.
How can a financial adviser help?
A expert independent financial adviser should take into account the school’s fees, your attitude towards making investments, tax rates for you and family members, whether you have useable assets or capital and your views towards financing. These are only a few components financial adviser will take into consideration when evolving any plans for fee payments.
Want to find out more info about our advisory service.
Whether you are looking to set up a regular monthly plan, provide out of earnings or invest a lump sum to cover future expenses and costs we can help you.
Our experienced financial adviser will provide advice and guidance. He will talk over with you, the advisable choices for you and your family.
To talk 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
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