#money
People often think a car is the second-biggest financial outlay after their house.
I disagree.
I think the second-biggest outlay a person can have is their children’s’ education. Especially if the education is a foreign one. And then multiply that number by the number of kids you have.
And unlike a car (where you can pay for it over a maximum of 84 months or 9 years), the outlay for an education — especially a foreign one — is immediate and hefty.
Tuition, books, accommodation and living expenses falls into one bucket.
Proof of funds (usually to cover a year of aforementioned expenses and untouched for a minimum of 6 months, usually 12 months) is another.
Airfares and visas are yet another, albeit smaller (relatively), bucket.
And then there are exogenous costs — which are called exogenous — because, well, they’re unexpected, like trips, travel, clothes, medical expenses and so on.
When you tot all these up, the numbers get quite terrifying. Especially when economic conditions are uncertain, much less job security (cue AI).
And let’s not even get into a chat about geopolitics.
One can imagine the stress levels on a parent, who has to juggle household expenses and the cost of aging parents, even as he or she ages, often leaving themselves at the bottom of the priority list.
It’s quite the conundrum.
And one which I am experiencing, right now.
Anabelle and I talked about it in our latest episode. I knew it was an issue that one would resonate. But not to the extent that it has, in just the one day since we uploaded it.
Digital folks would say it has gone ‘viral’ (not like Covid per se, but by something called ‘views’).
Have a gander if you like. And have a look at the comments: they’re really quite impassioned.
The Pros and Cons weigh heavily on both sides.
But it’s worth the thought process, especially if it’s an event that looms large on your horizon.
Happy Thursdays all.
Carpe Diem.
