Do you know the impact of inflation on your child’s school fees
These statistics are quite scary; they could bring you to your knees
In the past school fee inflation has exceed RPI
By a rather gruesome margin, every year, and that is why
If you pay, 10 grand in school fees every year for the next six
Inflation at just 5 percent, could still leave you in a fix.
Multiplying 10 by 6 just does not tell it like it is
The effect of annual compounding, means it is much worse than this
10 times 6 just equals sixty – everybody knows this well
But the impact of inflation could put you in finance hell
5 percent for six whole years on your 10 grand will mount up quick
Here – I’ll do the calculation – the result will make you sick!
5% inflation over six years means your bill will be
Not the sixty grand you thought but £71,420
If you’d like some help from us to do these rather complex sums
Come to allaboutallaboutschoolfees.comschoolfees.com we make it easy for Dads and Mums
