7 ways Eden School Fees Planning helps parents considering private school

7 ways Eden School Fees Planning helps parents considering private school

Do you have all the facts at your fingertips? When considering a private education for your child, it’s important to know you’re making the right choice.

Private schools come at a cost, and, unfortunately, you can’t just turn off the tap if you can’t afford to pay the fees anymore. That can leave some parents anxious about going down the private education route, so they automatically shy away from a fee-paying school before considering whether they could afford it.

So is a private education or a state school the best option for your child? Whichever way you choose, your decisions will have life-long ramifications for your family. In other words, it’s important you take the time to consider the right choice.

That’s why taking financial advice early can bring real benefits. At Eden School Fees Planning, we take an all-around look at parents’ finances to help them make the right decisions for their family situation.

Curious? No problem. Here’s a rundown of the ways we help families like yours:

1. Helping you decide whether private school is the right financial choice

Pupils In Computer Class With Teacher

Firstly, if you haven’t sent your child to private school yet, we help families understand the effects of school fees on their finances. We’ll look at your financial situation to assess whether you could afford private school fees.

It’s a thorough examination that considers your current income, assets, expenditure and life goals. Having this information clear up front means you’re properly prepared to make the best decision for your child and your family’s circumstances.

2. Making taxes easier to navigate

Income tax, inheritance tax and capital gains tax can be a minefield. And a lot of our clients don’t realise the benefits they can achieve by becoming more tax efficient. We’ll look at your tax position to identify ways you may be able to manage it better, so you can save money. It’ll free up financial resources to pay for school fees and work towards your long-term goals.

3. Showing where you’re overspending

Understanding the full picture of your finances is enlightening. Knowing where all your money’s going means you can see areas you could free up in your budget. It’s empowering and can be a real weight off your shoulders.

We never tell people how to spend their money – that’s up to you – but parents are usually relieved when they know where they can make simple cutbacks to send their child to private school. They feel purposeful in their spending.

4. Giving a clear pathway to follow

An effective budget based on sound financial planning is like a roadmap. It shows you where you are and the destination you want to get to. And in between, there are clear options for the routes you can take.

Maybe you have dreams of early retirement or buying your ‘forever’ home. At Eden School Fees Planning, we’ll show you the options for achieving those goals.

When you have a framework to follow, you’re empowered to make informed choices rather than spending money without a clear direction ahead.

5. Making grandparents’ inheritance tax savings more efficient

It’s a source of huge concern to many grandparents that a large portion of their estate could be lost in inheritance tax.

For a lot of grandparents, their wealth has come from long years of hard work and careful saving. Or if their assets are inherited, they feel a sense of responsibility to safeguard them for future generations.

They may rather help a grandchild achieve their potential – and get to see the benefits during their lifetime – than save their wealth knowing that their family may inherit less due to tax.

With a little help from Eden School Fees Planning, grandparents can fund private school fees and make their inheritance tax position more efficient.

6. Planning for school fees with business owner

If you’re a company director, there can be additional complications to your financial situation. Maybe you draw the majority of your income through dividends rather than a salary. Perhaps you have the opportunity to pay for school fees through your business, rather than your personal accounts.

And when you’re a busy business owner, there are so many calls on your time that financial planning – including for long-term goals like your retirement – can fall by the wayside.

That’s where we can help. We’ll take a look at your business and personal finances to show you ways you can become more tax efficient whilst living the lifestyle you love, paying for school fees, and saving for the future.

7. Easing the pain when you’re struggling to pay school fees

Are you finding things financially tight with your child’s existing school fees? Don’t worry, it’s not too late to get help.

If your income seems healthy, but you’re struggling to make things add up, there are plenty of options to explore.

Once again, it’s about looking at the whole picture of your assets and expenditure. We can help you access the best mortgage deals. We can help you make sure you’re saving for your future, and identify how you might be able to build up your assets without making too many lifestyle cutbacks. And – of course – we’ll show you how following a plan enhances your ability to keep your children in the school they love without the fees becoming a burden.

Financial planning: the best choice for your family

Are you undecided about whether school fees are affordable for your family? Do you have concerns about paying private school fees?

A lot of our clients come to us with complex financial situations. Some are overspending without having maximised their income, others are tax inefficient. Many are operating without a clear plan for the future. What they all have in common is the desire to provide the very best opportunities for their children.

That’s where financial planning comes in. At Eden School Fees Planning we help parents to get a clear view of their financial position. With our help, they can make choices that maximise what their money can do for them.

Take a look at our case studies to see how we’ve helped families like yours make the most of their finances and give their children a dream education.

Are you a business owner? A higher rate taxpayer? Paying too much tax on your investments? We can help you. Or maybe your situation is entirely different. Get in touch to talk through your position and find out how we can help.