How to financially plan for your next school year.
Homeschooling may not cost as much per student as public or private school, but that does not make it free. Every homeschool family needs to consider their budget in planning for the school year.
The website for the U.S Department of Education contains several graphs with revealing information concerning the spending of education dollars. According to their graphs, the US spent $536 billion dollars on students for the 2004-5 school year. For the last year of data collected, 2001-2002, the site shows that an average of $8,997 was spent per student.
The homeschooling family spends much less than $9,000 per child for education. While that thought may be comforting, it does not mean homeschooling families can relax. Education usually involves some amount of spending. Books, curriculums, art supplies, piano lessons, coop fees, on-line classes, Little League, not to mention basic supplies like paper, pencils, and pens- these are all areas where the homeschool family can spend their education dollars.
Like any good budget, having a plan is the best way to spend responsibly. By following a few steps, a good homeschool budget can be achieved.
1) Know your limit - Many homeschool families are on a tight budget, often relying on one salary. Decide what your budget range is for the school year. What amount is too high? What are you comfortable spending?
2) Plan it out - Try to detail the coming year as much as possible. Gather a pencil, paper, computer, and calculator. Sit down and research your curriculum choices. Write down the estimated cost of any curriculums, books, or courses your child will be using.
3) Watch out for extras - Pay attention to the details of any curriculum and look for "hidden" costs. For example, that Latin course sounds great. The set includes the teacher's manual and the student workbook for a reasonable price. However, you can also purchase the CD, DVD, or wall chart in addition to the basic materials. Sometimes these extras make the difference between affordable and too much. Follow these guidelines when considering the extras of any program:
- Decide what is "necessary". What is essential in this curriculum or course.? Write the name and the cost of each part down.
- Decide what is "desirable". What pieces of the curriculum are not necessary, but would be very helpful or would make it more enjoyable? Write each down, along with the costs.
- Decide what are "frills". These items may be offered, but are not needed and do not add to learning the subject matter, or can be substituted for items already owned.
Now, put this list aside for a few days. Return to it with a fresh perspective. Sometimes those items that seem "necessary"' at first become "frills" after a few days of thinking.
4) Learning is not all books - Do not forget to write down the less obvious expenses, as they are part of education, as well. They are often well worth it, too! These costs may include
- manipulatives
- supplies (paper, pencils/pens, printer ink, computer paper, etc...)
- museum memberships
- gym memberships
- sport fees
- art or music lessons
- coop fees
- any extra classes taken, from dance to sports to gymnastics to origami!
- Field trips
Consider each of these steps in planing a budget. Costs can be reduced by buying used curriculums and books, teaming with another homeschooling family in using extras and taking classes through your town recreation program versus professional instructors.
Also keep in mind there are always unexpected costs througout the year. Budget a little extra for these surprises!
Homeschooling budgets can be as big or as little as a family can afford. Plan ahead and plan smart!
