Homeschooling does not have to cost you a fortune. Although it can be more expensive than sending your kid off to public school, it is an excellent investment in your child’s education, future, and overall wellbeing.
In addition to the obvious benefits, it gives you complete control over the quality of teaching your child receives and helps you monitor their progress. If you are considering homeschooling your children, you may have wondered how you can finance homeschooling expenses. Fortunately, there are several options available to enhance your child’s at-home learning experience. Plus, it’s much easier than you might think.
Here are a few financing tips that will help with homeschooling your child.
1. Create a financing plan
Before deciding your curricula or ordering your educational supplies, make a financial plan factoring in your budget and the resources you need. Start by finding out how much your supplies will cost you and make space in your budget for those costs. Depending on your financial standing, you might have to look for other income sources.
2. Create an extra source of income
Another way to finance homeschooling your child is to find an extra source of income. This way, you will be able to reduce any financial strain on your general or monthly budget. This point is crucial if you’re about to take on the homeschooling challenge for the first time or you’re generally running out of cash.
In seeking an additional source of income, you don’t want an option that will take too much of your time and make it difficult to make time to homeschool your little one. Thankfully, the online world offers loads of flexible side jobs and ventures you can try, ranging from freelancing to selling health and fitness products, like Plexus.
Or you can also try looking for investment options that do not require too much to start, say cheap cryptocurrency trading. According to the experts, your safest option is always to start small. Additionally, it would help if you also considered expenses like transaction fees when making money online. A platform like Ethereum, for example, would charge you Ethereum gas fees payable in Ether (ETH) on your transactions.
3. Find mini-grant sources
Depending on where you live, you should find some grant options that can help ease your financial burden. Mini-grants usually tend to be the more practical option for homeschool expenses compared to regular grants. That’s because not only do mini-grants offer funding for specific things, they also have much quicker funding turn-around time. You can use mini-grants to cover various homeschooling costs and even access them from different sources. This will help you homeschool your child with less financial burden.
4. Connect with other homeschool families in your area
With the rising number of families opting for homeschooling, you’re sure to find a family or two in your local area worth connecting with. Creating this type of connection can be of immense value if you’re trying to homeschool your child for the first time.
Not only will you get the essential teaching tips you need, but you can also benefit from money-saving pointers, connections, and math exam resources to very cheap educational supplies. You might even find families ready to lend you some homeschooling resources or give them out to you for free.