Mr Money Mustache

MF2015

Well I!!!8217;m about half way through the blog posts but it seems like a lot of you we have been doing most of it he suggestions already apart from the cars. I!!!8217;ve wasted to much money on cars over the years but that!!!8217;s finished, I!!!8217;ll run it the current one until it dies.


I!!!8217;ll keep reading the posts and check out the others, especially the FI Facebook pages.

Ray_Singh-Blue

I'm a huge fan of the MMM blog and particularly identify with his views on transport, and self-reliance. I love riding a bike and hate driving a car, so have optimised my life to be as bike-friendly as possible. I have a trailer and do all sorts of heavy lifting and shifting using a low gear and a bit of patience. I also do most of my own building and plumbing work- not just to save money, but because I think it is good and satisfying to learn new skills, solve problems, and learn how things fit together.

2 areas where my view differs - housing and education. MMM advocates a small, cheap house and free education. We have instead chosen to spend (a lot) on both, and to remain dependant on working and earning at this stage in our lives. Which is OK- reading MMM reminds me that it's a choice - everyone has to make choices in life and these are the ones we are making at this point

fred246

I remember when I was looking at schools for my children I was trying to have a discussion of the pros and cons of our local comprehensive and our nearest private school to one of my colleagues of asian origin. The colleague maintained that the private one would be best without really giving a reasoned argument. When the colleague left the room another colleague of asian origin said "You have no chance there Fred. If an asian sent their child to a state school it would be seen as a great disaster for the family. You'd never persuade him that the state school was the best choice." Just looking at your name Ray I wonder if you would be in this category?

fred246

I continued to ask everyone I met why I should pay for private education costing me over £100K per child. The last person I asked who had sent their child to private school said "It just buys a little je ne sais pas". Ahh over £100K for a little bit of I don't know in french. Nobody I asked had given me anything like a good reason to send my child to a private school so I didn't bother.

michaels

fred246 wrote: »

I remember when I was looking at schools for my children I was trying to have a discussion of the pros and cons of our local comprehensive and our nearest private school to one of my colleagues of asian origin. The colleague maintained that the private one would be best without really giving a reasoned argument. When the colleague left the room another colleague of asian origin said "You have no chance there Fred. If an asian sent their child to a state school it would be seen as a great disaster for the family. You'd never persuade him that the state school was the best choice." Just looking at your name Ray I wonder if you would be in this category?

Where we live you effectively pay more for a house to get a very good state school but even though the premium is 200k it is still a lot cheaper than private education for 1 kid let alone 3.


However I suspect this may be part of what you get with a private school:
https://www.bbc.co.uk/news/education-44601198

westv

Years ago I used to work with someone who went to a public school.
He told that the difference between a public school and a private school is that entry to the former is by examination (plus fees to pay of course) but anybody can go to a private school as long as they pay. Is that correct?

Triumph13

fred246 wrote: »

I continued to ask everyone I met why I should pay for private education costing me over £100K per child. The last person I asked who had sent their child to private school said "It just buys a little je ne sais pas". Ahh over £100K for a little bit of I don't know in french. Nobody I asked had given me anything like a good reason to send my child to a private school so I didn't bother.

For £100k I'd hope they'd learn to say je ne sais quoi rather than pas. They should ask for a refund!

westv

Triumph13 wrote: »

For £100k I'd hope they'd learn to say je ne sais quoi rather than pas. They should ask for a refund!

Bonnet de douche, Bonnet de douche!

ams25

Topical issue for me as my eldest approaches secondary age (not quite there). Luckily we have some good/outstanding state schools near so I hope we can benefit from those. But I do question the value today of private schools (c.£250k for my two I suspect given their age and the inflation rate for fees and extras) and I definitely do not like the "keeping up the with the jones" mentality that seems to often go hand in hand. I know plenty of people with kids at private school and you hear some appalling tales - comparing houses, holidays and cars at an early age and where the extremes are in evidence. So not what I want for my children. A good education is important and I know many private schools excel, but many state schools do too and a good education needs to go with a good attitude, supportive and present parents (ideally not working all hours to pay), personal drive and confidence.

I am sure many will disagree and think they are worth every penny.... and it is probably worse in London than many places.

PS i did go to a private school. it didnt do me any harm, but I struggle to see it delivered the amount of value it costs today (it is relatively so much more than 40+ years ago).

fred246

I am just retiring at the moment. The first colleague to talk to me after it was announced earns much more than me and the colleague's wife earns even more than him. "Got enough to retire Fred?" "Yes - you should have too." No I am skint." He sent 4 children to private school. He has been telling others that it was a mistake and he should have sent them to state school and spent extra on tutors, trips etc as and when they were required. That was very much our policy. State school, go on every trip, evenings with extra curricular activities. My oldest 2 both got into top universities. They both told me they spent a lot of time at their interviews talking about one of the cheapest activities available - scouting.