-
-
Ad Space
(728 x 90)
WHAT THE EXPERTS SAY
“They absolutely did the right thing in finding a solution to this one big expense. They also got lucky,” says Chatzky, who generally advises New Yorkers to divvy up their after-tax income like so: 35 percent for housing, 15 percent for transportation, 15 percent for debt repayment, 10 percent for savings and 25 percent for everything else. (For more on budgeting, see “Hey, big spenders” on page 26.) “If you can squeeze the tuition money out of another category that isn’t savings, which is non-negotiable,” she adds, “that can work, too.”
So let’s say Zoë and Nicholas could have saved some money on transportation or debt costs, which for them were negligible. As Dunleavey points out, “given that they couldn’t afford $20,000 for day care, spending $24,000 for tuition would be impossible.”
NEXT »
