• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Go to Expat Living Hong Kong
Get our Newsletter

Lifestyle Guide To Moving To & Living in Singapore - Expat Living HomepageLifestyle Guide To Moving To & Living in Singapore - Expat Living

Moving to Singapore and not sure where to start? Expat Living is the essential lifestyle guide to living in Singapore.

Menu
  • Living in Singapore
      • Living here
      • Neighbourhood Guides
      • Schools
      • Property
      • Work And Business
      • Finance
      • For Guys
      • Environment
        • sports schools in singapore students jumping sack sports activitiesDiscover the sports programme at this international school
        • home internet singaporeGet your IT sorted – especially if you’re renovating
        • employee benefits mental healthEmployee benefits: What’s trending now
        • John HoggerSingapore authors – new books from sci-fi to self-help!
      • View all
    Close
  • Things To Do
      • Things to do
      • EL Events
      • Calendar
      • Competitions
      • Noticeboard
        • The National Stadium - Sports Hub Best venues for concertsTheatres in Singapore plus venues for events & concerts!
        • Matilde G Cover picWe meet 17-year-old singing star Matilde G
        • sports schools in singapore students jumping sack sports activitiesDiscover the sports programme at this international school
        • ChivasWhat’s on this week and beyond
      • View all
    Close
  • Kids
      • Enrichment
      • Kids Things To Do
      • Mums & Babies
      • Schools
      • Tots & Toddlers
      • Tweens & Teens
        • enlarged adenoids ENT surgeonENT specialists discuss hearing loss & enlarged adenoids!
        • Oasia Resort Sentosa Far East Hospitality leadFeel like having a family staycation in Singapore or have friends visiting?
        • LoveAmme MadeToTravel breast pump with custom breast shieldPain-free & Efficient Breastfeeding Starts Here
        • Camp Asia school summer holiday campsSummer holiday camps the kids will love!
      • View all
    Close
  • Homes
      • Home Decor
      • Readers’ Homes
      • Furniture
        • interior décor tips styling a colonial house in SingaporeInterior design styles for a colonial house in Singapore
        • European bedding best mattressBest mattresses for the best sleep!
        • Where to buy lamps in SingaporeWhere to buy lamps in Singapore – lights galore!
        • singapore furniture shoppingSideboards, benches and consoles!
      • View all
    Close
  • Travel
      • Asia
      • Australia & New Zealand
      • Rest Of World
      • News
      • Travel Offers
        • international health insuranceProtecting your health overseas in 2022
        • COMO Point Yamu One Bedroom Pool Villa sundeckWhy you should stay at this Phuket resort
        • BangkokWhere to go in Bangkok
        • Jurong Bird ParkTravel News & Hotel Deals
      • View all
    Close
  • Wine & Dine
      • Asian Cuisine
      • Western Cuisine
      • Bars & Clubs
      • Groceries & Speciality Services
      • Recipes & Classes
        • Farmers market - butcher - meat shopTop butchers for good-quality meat
        • Sugarhall DaquriLatest bars in Singapore: New drinking spots!
        • M&S Meat Free NuggetsPlant-based nuggets – here’s what we think!
        • champagne deliveryOnline alcohol delivery – wine, champagne, beer & spirits!
      • View all
    Close
  • Style & Beauty
      • Fashion
      • Hair & Beauty
      • Beauty Offers
        • Spray tan singaporeGet a golden glow quickly with a spray tan!
        • affordable massages singapore spasMassages in Singapore that’ll help you unwind
        • clifford clinic aesthetic clinic singapore best acne treatmentHow to prevent pimples and get rid of acne scars!
        • skinscapeScared of the pain? There’s always numbing cream!
      • View all
    Close
  • Health & Fitness
      • Dental
      • Fitness
      • Medical
      • Wellness
        • PainWhat is pain and how do you treat it?
        • Pilates fitnutFancy doing a fitness & Pilates instructor course in Singapore?
        • enlarged adenoids ENT surgeonENT specialists discuss hearing loss & enlarged adenoids!
        • frequent urge to pee overactive bladderHow to treat that frequent urge to pee
      • View all
    Close
  • Shop
    • PRINT MAGAZINE
    • DIGITAL MAGAZINE
    • BOOKS
    • Close

Financial planning for paying international school fees

11th October 2018 by Emily Finch 3 Min Read

https://expatliving.sg/financial-planning-for-paying-international-school-fees/

Managing the crippling cost of private school fees is a hotly discussed subject among us expats. We chat to  Andrew Talbot from Avrio Wealth, on how to prepare and plan for those dreaded international school payments. He’s one of the only Expat Certified Financial Planners (CFP) in Singapore and a member of the Financial Planning Association of Singapore, so he knows his stuff.

“International school fees are three words that can strike fear into a parent’s heart,” says Andrew. “From the moment of birth, we are bombarded by advertising encouraging us to save for our children’s education. But what happens when your annual tuition bill for an international school in Singapore is equal to, or more than, the annual cost at some of the world’s best universities? With careful planning you can survive the cost of private schooling in Singapore.

Financial planning for school fees
Budget up to $4,000 per child per month for international schools fees in Singapore

How much does tuition actually cost?
Fees increase with grade level, with tuition at Singapore’s international schools ranging from $13,000 – $47,000 per year. Be aware that many schools have extra costs, ranging from application fees to building funds, transportation and more. Be sure to fully investigate the total cost of schooling, before you commit financially and make an application.

Where many overseas postings used to boast a generous financial package that covered education, today, more people are ‘going local’, opting for packages without benefits. Thankfully, international schools have taken note of the changing expatriate financial climate, and most now offer a selection of payment plans to soften some of the sticker shocks. Be sure to discuss an instalment plan with your school of choice.

How to save for school fees
expatfinancialplanning.com offers advice on how to plan for paying for school fees

How much should I budget for for school fees?
From a budget perspective, we suggest you allocate up to $4,000 per calendar month per child for tuition at one of the major international schools. If you select a smaller school with less co-curricular activities, you may be able to reduce this figure by up to 50%.

How can I save for future school fees?
Consider investing in an education savings plan to cover future university fees. There are a variety of education investment plans available in Singapore that generally start at around $675 per month. Also, consider options in the home country of the school or university. For instance, the US has dedicated plans that are extremely tax-efficient. Some schools have their own internal schemes; these usually involve payment of upfront fees, but you receive a discount. The other alternatives include using existing investment portfolios or pay the fees out of your income.

What are the advantages of a specific education saving scheme over other investment products?
Having a dedicated education plan can take the pressure off finding the money when it’s needed to pay education fees. But it’s prudent to also look at using other family investments – such as an existing portfolio account or cash savings  to withdraw fees from; this can save on transaction and administration costs.

 

Expat Financial Planning offers bespoke financial planning services, including advice on how to create a family budget tailored specifically to your requirements.  Contact them to craft a school fee plan to fit your family.

For advice on savings, investments and other financial matters, book an appointment with Andrew or call him on 9824 1470.

Avrio Wealth Pte Ltd.



More financial tips for expats and more tips on how to save for your child’s education.

Get the latest events, stories and special offers
sent to your inbox.

By signing up, you'll receive our weekly newsletters and offers, which you can unsubscribe to anytime.

Categories: Kids Living in Singapore Schools Schools Tags: Singapore Finance Singapore Schools

You May Also Like

sports schools in singapore students jumping sack sports activities

Discover the sports programme at this international school

home internet singapore

Get your IT sorted – especially if you’re renovating

employee benefits mental health

Employee benefits: What’s trending now

Primary Sidebar

  • Competitions
  • Noticeboard
  • Subscribe
  • About
  • advertise
  • Contact
  • Privacy

© 2022 Expat Living Singapore, All Rights Reserved.