Homeschool Budgeting: What Have I Spent?

Welcome back to Making Everyday Magic! My name is Shanna, and if you’re new here, we are a homeschooling family of four. We’re about to start the very last week of our 2023-2024 school year, and I’ve just finished purchasing everything we need for the upcoming 2024-2025 school year. Now, it’s time to talk about the money.

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Homeschool What Have I Spent

 

My Homeschool Budgeting Basics

For those who are new here or as a fun refresher, I enjoy sharing my homeschool budgeting process. When we began our homeschooling journey, we initially sent our daughter to a Mother’s Day Out program that cost around $2,000 per year. When we decided to homeschool, we allocated a similar amount to ensure our school expenses were covered. Our current budget per child is $2,000 annually.

 

Allocating Our Homeschool Budget

Our homeschooling budget has never reached the $2,000 mark per child. However, it’s crucial for us to have this money set aside. Each year, we sit down to figure out our expenses, including large annual expenses like property taxes and dance costumes. We calculate these big costs monthly and set the money aside in a separate account to ensure everything is covered.

 

Annual Homeschool Budget: $4,000

Despite having a $4,000 annual budget, we’ve never hit this limit. This budget works for us and is based on our financial comfort and priorities. This is not a commentary on how others should budget; it’s simply what suits our family. I also share cost-friendly resources on my channel to ensure homeschooling remains accessible to everyone.

 

Homeschool What Have I Spent

 

Resources and Costs

I have shared videos on how to provide a complete grade-level education for free using quality materials available online. Even though we have a higher budget, I love to share affordable and free resources. I never want cost to the the barrier that keeps families from being able to homeschool. Our budget covers various curriculum pieces, but I exclude extracurricular activities like music lessons and dance from this budget as they fall under a different category for us.

 

Homeschooling Groups and Additional Costs

We participate in homeschooling groups that offer classes at the Houston Museum of Natural Science. These classes have been fantastic and cost around $100 per child for a series of classes, making them an excellent value. We also anticipate additional costs for science supplies and specific curriculum pieces like the All About Spelling activity book.

 

Current Purchases and Remaining Budget

Here’s a brief look at my recent purchases:

Timberdoodle Kits: $1138.86
Royal Fire Express: $435.00

With these purchases, we still have over half of our budget left. We still need to buy science supplies and pay for museum classes and the All About Spelling activity book. As our younger child uses materials purchased for our older child, our costs decrease each year, providing increased value from our initial investments.

 

Future Budget Updates

I plan to provide an update either at the end of the 2024-2025 school year or once I’ve made all necessary purchases. This ensures you stay informed about our budget and spending.

 

Homeschool What Have I Spent

 

Conclusion

I hope you found this breakdown of our homeschool budget helpful and informative.  I currently use Excel for budgeting but have also used Google Sheets in the past, which is a great free alternative.

Be sure to subscribe to our monthly newsletter to be an insider and to follow along with our days over on Instagram @makingeverydaymagic.

Thank you for joining me, and happy homeschooling!

Feel free to ask any questions or share your own budgeting tips in the comments. Let’s support each other in making homeschooling as enriching and affordable as possible!

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