Poll: Are you rich?
Total Members Polled: 520
Discussion
Harry H said:
soupdragon1 said:
Never got my head around the private schooling for those that aren't loaded. I can reconcile in my head when people have plenty of capacity to do so but for those that do it while sacrificing other things, I just don't get the maths.
£2k a month is a lot of payroll when compared to a private tutor to 'top up' or support optimum performance. Teachers aren't exactly paid well and I found that evening/summer tuition costs were very reasonable at £25 an hour.
Just 10% of that £2k and would get you 8 hrs a month, on top of the free education.
I'm not even sure if I spend £2k on extra tuition for my son's entire lifetime at school, let alone in a month.
I just don't get it. Is it a class thing, mixing with the wrong people, exposure to vaping/drugs/alcohol, or just a general fear? Surely normal school and top up tuition is a more cost effective way of optimising their performance?
Not so much a class thing but maybe held back by the wrong people.£2k a month is a lot of payroll when compared to a private tutor to 'top up' or support optimum performance. Teachers aren't exactly paid well and I found that evening/summer tuition costs were very reasonable at £25 an hour.
Just 10% of that £2k and would get you 8 hrs a month, on top of the free education.
I'm not even sure if I spend £2k on extra tuition for my son's entire lifetime at school, let alone in a month.
I just don't get it. Is it a class thing, mixing with the wrong people, exposure to vaping/drugs/alcohol, or just a general fear? Surely normal school and top up tuition is a more cost effective way of optimising their performance?
Normal parents who are prepared to sacrifice £2k a month really care about their kids education(not to say others don't). The child will likely have a far better home life. The end result within the school is far better discipline and higher expectations not just in exam grades. The kids learn how to behave and how to get ahead with far less distraction as to how not to behave. The end result is usually better exam grades but it's far more than that, which extra tuition alone won't provide.
My daughter was privately educated up to GCSE's and then went to a state sixth form college. We live in a affluent area and supposedly the college was in the top 5 in the country. The difference was night and day. It was a real shock as to how little they cared about the welfare and education of the children apart from exam results. It was just a factory. New kids in one end. Tell them some stuff. Exams. Out the door.
I sometimes thought when wanting to give my child a head start is it better to give them a quality education or put the money aside and contribute to a house instead. The experience tells me private education every day.
Absolutely see your point on pastoral care. When my son was moving to year 8, we went to the open days and the particular school he picked was one with historically good grades. The principal speech touched on that, but made clear that pastoral care came 1st, and the results come 2nd. They go together really, truth be told.
That was the deal clincher for us so we were pleased that he picked it through his own choice and we all agreed that it was the correct school. 10 A stars at GCSE, same again at half way through A levels and sitting final exams now. Already accepted to Queens in Belfast to study astrophysics. 2 hrs a day on the bus was the sacrifice though. Big ass school with over 1000 pupils but kids still felt supported and looked after, so it can be done.
There is something wrong that the non private pupils (which another poster mentioned earlier) weren't capable of doing sciences at A level even though they previously spent primary school together. So why did the private school pupil get a better education? It appears that private schooling has been a thing for quite some time in England and it's becoming almost like a necessity to get a 'quality' education. Is that a fair observation?
Private schooling doesn't really exist in any great numbers in NI but quality education is of course possible. Parents will top up with tutoring if kids need some extra help, hence my original post.
So it kind of feels like a class/status thing has developed, where the haves and the have nots get a different education, despite having the same syllabus. I'm struggling to see it any other way to be honest. Which is an absolute failure of the state as well as a failure of the education boards and governors.
My brother sacrificed 10 years of his life to get his two daughters though private school.
Spent every penny. Some help from the rest of family but effectively everything his wife and he earned was spent on education.
Took on multiple pieces of work, long hours etc. He does earn a decent amount but has minimal savings now.
Now both daughters are out of uni he actually has some cash; holidays, home remodel etc.
I'm proud/amazed by him. 1.5hrs of school run every day as well.
The local schools he and I went to have gone so far downhill. Friend's child there had something like six English teachers in two years. Facilities are not great. This is in Surrey. Asking for money all the time: parents fund raising. Some kid came to school with a knife. Fights.
He just couldn't/wouldn't put his daughters in those schools. What the hell happened?
Mine is in an international school. Cambridge syllabus. 12 max to a class. Teachers and students from different countries (i see this as hugely important in today's world), one or two classroom assistants per class.
Can contact teachers anytime over Whatsapp. Something going on every week. Last week was a 'swim-fest' (no medals for participation just winners), today is a singing/music event that I'll be going to and tomorrow is end of term reviews with teachers.
There are about 10 after school activities from Wu-shu to art. Mine does vocal, art and piano.
No phones at any age in the school. Proper dress code.
We are super happy with all of it. Made some nice friends as well from other parents.
Cost is so much less than he was paying - a tenth?
We got lucky as I have not really considered education, luckily my wife is more sensible than me!
Want some poverty porn: she and her siblings used to make a toy car out of an old sandal and bottle caps. Bitten by a dog but all they could afford was a few antibiotic capsules that were emptied on to the wound: she has a big scar. Was cooking rice for her family at age 4/5.
No TV - so used to peer in to neighbour's houses. Lots of stories like this.
Ended up through circumstances getting privately educated and set on a different course through life.
No sky - dish either.
Mind you I've never had one or any satellite TV. I guess Netflix was the first on demand I had..?
Spent every penny. Some help from the rest of family but effectively everything his wife and he earned was spent on education.
Took on multiple pieces of work, long hours etc. He does earn a decent amount but has minimal savings now.
Now both daughters are out of uni he actually has some cash; holidays, home remodel etc.
I'm proud/amazed by him. 1.5hrs of school run every day as well.
The local schools he and I went to have gone so far downhill. Friend's child there had something like six English teachers in two years. Facilities are not great. This is in Surrey. Asking for money all the time: parents fund raising. Some kid came to school with a knife. Fights.
He just couldn't/wouldn't put his daughters in those schools. What the hell happened?
Mine is in an international school. Cambridge syllabus. 12 max to a class. Teachers and students from different countries (i see this as hugely important in today's world), one or two classroom assistants per class.
Can contact teachers anytime over Whatsapp. Something going on every week. Last week was a 'swim-fest' (no medals for participation just winners), today is a singing/music event that I'll be going to and tomorrow is end of term reviews with teachers.
There are about 10 after school activities from Wu-shu to art. Mine does vocal, art and piano.
No phones at any age in the school. Proper dress code.
We are super happy with all of it. Made some nice friends as well from other parents.
Cost is so much less than he was paying - a tenth?
We got lucky as I have not really considered education, luckily my wife is more sensible than me!
Want some poverty porn: she and her siblings used to make a toy car out of an old sandal and bottle caps. Bitten by a dog but all they could afford was a few antibiotic capsules that were emptied on to the wound: she has a big scar. Was cooking rice for her family at age 4/5.
No TV - so used to peer in to neighbour's houses. Lots of stories like this.
Ended up through circumstances getting privately educated and set on a different course through life.
No sky - dish either.
Mind you I've never had one or any satellite TV. I guess Netflix was the first on demand I had..?
I can relate to the poverty porn, but to be honest it did not feel like it at the time....
I would go to the South East of Ireland for a few weeks' holidays in the summer, where my aunt had a smallholding. No electricity, no cars, no running water, no toilets, no phone. Learned to milk cows, kill chickens and so on. Cooking over an open fire, lighting by Tilley lamps. Learned to drive an ass and cart at about 8.
Unpaved roads.
In the city we had no phone, no car, and no TV till I was about ten, though we did have plumbing and electricity.
Usual schoolarship stuff to get educated.
I would go to the South East of Ireland for a few weeks' holidays in the summer, where my aunt had a smallholding. No electricity, no cars, no running water, no toilets, no phone. Learned to milk cows, kill chickens and so on. Cooking over an open fire, lighting by Tilley lamps. Learned to drive an ass and cart at about 8.
Unpaved roads.
In the city we had no phone, no car, and no TV till I was about ten, though we did have plumbing and electricity.
Usual schoolarship stuff to get educated.
Chuckled when my new bank account manager told me he wanted to set up a F2F review with me as they did for all their ‘ultra high net worth clients.’!
Still paying university fees for kids and don’t feel remotely wealthy, especially when I chat to buddies in the same profession from the USA earning easily 4x as much
Its all relative, and we get to live in a much more equal society (hopefully soon to become more so…)
Still paying university fees for kids and don’t feel remotely wealthy, especially when I chat to buddies in the same profession from the USA earning easily 4x as much
Its all relative, and we get to live in a much more equal society (hopefully soon to become more so…)
740EVTORQUES said:
Chuckled when my new bank account manager told me he wanted to set up a F2F review with me as they did for all their ‘ultra high net worth clients.’!
Still paying university fees for kids and don’t feel remotely wealthy, especially when I chat to buddies in the same profession from the USA earning easily 4x as much
Its all relative, and we get to live in a much more equal society (hopefully soon to become more so…)
In banking that’s generally taken to mean people with over £20m or so net assets.Still paying university fees for kids and don’t feel remotely wealthy, especially when I chat to buddies in the same profession from the USA earning easily 4x as much
Its all relative, and we get to live in a much more equal society (hopefully soon to become more so…)
If you are genuinely in that bracket then you are wealthy.
Ken_Code said:
740EVTORQUES said:
Chuckled when my new bank account manager told me he wanted to set up a F2F review with me as they did for all their ‘ultra high net worth clients.’!
Still paying university fees for kids and don’t feel remotely wealthy, especially when I chat to buddies in the same profession from the USA earning easily 4x as much
Its all relative, and we get to live in a much more equal society (hopefully soon to become more so…)
In banking that’s generally taken to mean people with over £20m or so net assets.Still paying university fees for kids and don’t feel remotely wealthy, especially when I chat to buddies in the same profession from the USA earning easily 4x as much
Its all relative, and we get to live in a much more equal society (hopefully soon to become more so…)
If you are genuinely in that bracket then you are wealthy.
The banks have realised that making people feel important is a way to sell them more. It’s the SJP playbook.
It’s why all of the high street banks have private banking for people with a few quid in savings. Pointless for almost all people I’d say. What is a private bank going to be able to do for you if you’ve got £250k investable (this is a threshold for many high st)? Nothing, apart from take you for a ride on fees. £5m? Maybe more interesting for various pending facilities etc but at the lower end all I see is banks blowing smoke.
It’s why all of the high street banks have private banking for people with a few quid in savings. Pointless for almost all people I’d say. What is a private bank going to be able to do for you if you’ve got £250k investable (this is a threshold for many high st)? Nothing, apart from take you for a ride on fees. £5m? Maybe more interesting for various pending facilities etc but at the lower end all I see is banks blowing smoke.
okgo said:
The banks have realised that making people feel important is a way to sell them more. It’s the SJP playbook.
It’s why all of the high street banks have private banking for people with a few quid in savings. Pointless for almost all people I’d say. What is a private bank going to be able to do for you if you’ve got £250k investable (this is a threshold for many high st)? Nothing, apart from take you for a ride on fees. £5m? Maybe more interesting for various pending facilities etc but at the lower end all I see is banks blowing smoke.
Yes, a bit like an extension of the so called premier banking accounts with ‘concierge services’, just ways to extract fees from you.It’s why all of the high street banks have private banking for people with a few quid in savings. Pointless for almost all people I’d say. What is a private bank going to be able to do for you if you’ve got £250k investable (this is a threshold for many high st)? Nothing, apart from take you for a ride on fees. £5m? Maybe more interesting for various pending facilities etc but at the lower end all I see is banks blowing smoke.
740EVTORQUES said:
Yes, a bit like an extension of the so called premier banking accounts with ‘concierge services’, just ways to extract fees from you.
I've got a friend who's a sucker for this type of crap. Whenever we do anything he insists on getting "his" concierge service to organise it. A quick Google always shows exactly the same event at half the price from somewhere else. If money was coming in faster than he could spend I'd get it. But that's really not the case. Years and years of piss taking has failed to change his mind.
I’ve got it with NatWest.
It’s good value if you use the insurances - phones/breakdown/extensive travel/lounge pass thing is £30 a month - but everything else is s
te. I get free tickets to occasional things of interest but them wanting to speak to me about my ‘financial health and life” can get in the sea.
Concierge also mostly ste.
It’s good value if you use the insurances - phones/breakdown/extensive travel/lounge pass thing is £30 a month - but everything else is s
te. I get free tickets to occasional things of interest but them wanting to speak to me about my ‘financial health and life” can get in the sea. Concierge also mostly s
te. 
okgo said:
I’ve got it with NatWest.
It’s good value if you use the insurances - phones/breakdown/extensive travel/lounge pass thing is £30 a month - but everything else is ste. I get free tickets to occasional things of interest but them wanting to speak to me about my ‘financial health and life” can get in the sea.
Concierge also mostly ste.
I've got a Club Lloyds account, dontchaknow. Zero cost but a free Good Housekeeping subscription for the wife.It’s good value if you use the insurances - phones/breakdown/extensive travel/lounge pass thing is £30 a month - but everything else is s
te. I get free tickets to occasional things of interest but them wanting to speak to me about my ‘financial health and life” can get in the sea. Concierge also mostly s
te. - winningatlife
I assume it's a bot or bored person on £10 an hour who calls Richard Branson directly at home to get that week on Necker Island for 10% of the headline price?
Looks like the insurances are the only useful thing, which I do through Nationwide for £13 a month or so. And no need for silly amounts of money to be flowing through the account.
Looks like the insurances are the only useful thing, which I do through Nationwide for £13 a month or so. And no need for silly amounts of money to be flowing through the account.
okgo said:
I’ve got it with NatWest.
It’s good value if you use the insurances - phones/breakdown/extensive travel/lounge pass thing is £30 a month - but everything else is ste.
FWIW I have a similar Premier Account with HSBC and there's no monthly cost. I'm always surprised when people pay for one of the other high street ones. It’s good value if you use the insurances - phones/breakdown/extensive travel/lounge pass thing is £30 a month - but everything else is s
te.I can understand paying for one of the proper high-net-worth accounts but not a high street one that just gives you some insurances and a separate phone-line and occasionally a different counter service.
bloomen said:
Looks like the insurances are the only useful thing, which I do through Nationwide for £13 a month or so. And no need for silly amounts of money to be flowing through the account.
I've got the Nationwide one and it's a bargain. I think the annual cost is less than the AA membership you get, so effectively the travel and phone insurance and other bits and pieces are free. Their travel insurance is pretty good too. I have to pay a supplement because my medical history is probably comparable with someone in their 80s but even that top-up is less than £150 for the year.Gassing Station | The Lounge | Top of Page | What's New | My Stuff