Catholic school education well worth the sacrifices

BACK TO SCHOOL: Plan a budget and cut back on unnecessary expenses

As our culture continues to make choices contrary to Catholic teaching, Catholic education has become even more important if our children are going to be well formed in the faith and apply it in their daily lives.

I wish I could say that some type of school voucher system or tax credit was on its way in every state to help Catholic families pay for the cost of a Catholic education. While several states have recently adopted school voucher programs, in most of the United States, it's up to us to figure out how we can pay for a Catholic education for our children.

Here are a number of suggestions:

I highly recommend that your first step be the creation of a written financial plan, otherwise known as a budget. This plan is necessary for you to be confident that you can achieve your financial goals, and it is the best tool available to help you maintain proper economic priorities.

Be willing to cut back on unnecessary expenses -- especially things like entertainment and meals out -- and redirect these newfound dollars to the education of your children. Such changes in lifestyle need to become a way of life for most families. We're all familiar with the stories of families from generations ago who made tremendous sacrifices in order to provide a Catholic education for their children. Today, many have grown accustomed to living in a society where we expect to have it all. In reality, most of us will need to make similar sacrifices.

For those who depend on two incomes and pay for child care, I encourage you to look at all of the additional expenses associated with the second job. When the extra income is relatively low, it's not uncommon for the second job to actually cost more money than it provides. You may be able to stay home with your young children and enhance their Catholic formation during the preschool years.

Look into financial aid. Many Catholic schools provide substantial discounts for more than one child. Visit the financial aid representative at your school to determine the possibilities that might be available to you.

Home schooling is a real possibility for a growing number of families. We have found that, while homeschooling is a heavy responsibility, it allows for more time together as a family and often makes it easier to form the children in the faith. It can also be much less expensive than private schools.

As your children get older and into high school, don't dismiss the possibility of having them work at various jobs -- mowing lawns, painting, babysitting, etc. -- and applying some of the income to assist with the cost of their own education.

Make sure your plan factors in the whole education of your children, including the college years. While that may seem daunting at first, it doesn't make sense to spend all of your resources on grade school and high school, only to be left with no resources for college. While you shouldn't be expected to cover the full cost of college education for your children, you will want to develop a strategy that limits the amount of debt they take on to an acceptable level.

If necessary, use a portion of your tithe for Catholic education. If the cost of education takes virtually your entire tithe, continue giving at least a modest amount to your parish and to assist with the needs of the poor, knowing that the Lord can multiply the amount.

Phil Lenahan is chief financial officer and treasurer of Catholic Answers.