Costs for education are currently rising by around 5% annually and childcare by 17.6% a year*. The Australian Consumers Association recently calculated that the average cost of full-time child care per week is $120. If a child has out-of-home care from the baby stage to when he/she starts school parents will have paid $30,000 and if the same child attended a private school from kindergarten to year 12, it could add another $250,000 to the bill!
Generally speaking high school children will cost around $4,000 per year per child at a public school including fees, lunches, uniform, music lessons or other extra curricular activities. At an independent school this rises to $15,000 per year. If your child wants to go to university you’re looking at another $50,000 on top of that.