In addition to the Family Finance Picture Questionnaire (FFPQ) (coming November 2023), you may wish to reflect on the following descriptions in choosing the tuition rate that best fits for you. Remember that Bucket C is the rate that would allow CCC to maintain a balanced budget.
Bucket A
- My family frequently stresses about meeting basic needs and doesn’t always achieve them
- My family has debt and it sometimes prohibits us from meeting basic needs and/or we are contacted by debt collectors
- My family does not have a car (or has a car but is not always able to afford gas and maintenance)
- My family qualifies for government assistance including food stamps and health care
- My family has no access to savings
- My family’s annual income is under $70K
- Adults in my family are unemployed, underemployed, or work multiple low-wage jobs to make ends meet
- Giving a gift for a wedding, birthday or graduation would put a strain on my family’s finances for the month
- My family cannot afford to take a vacation or time off without financial burden
- Over 50% of our income goes toward rent or mortgage on our primary home
Bucket B
- My family may stress about meeting our basic needs but we are still able to regularly achieve them
- My family is sometimes unable to make minimum payments on our debt
- My family owns or leases a car or ebike
- My family has a bank account, but limited or no credit history
- My family has to cut spending on other personal needs in order to send a child to preschool
- My family has less than 3 months living expenses in checkings/savings
- My family’s annual income is in the range of $70K-$120K
- My main income is hourly wages from a single full time job or a hands-on small business and I live paycheck to paycheck
- My family has little expendable income and most of our financial decisions are based on needs, not wants
- Over 30% of our income goes toward rent or mortgage on our primary home
Bucket C
- My family may have debt but we’re able to make minimum payments while still meeting our basic needs
- My family owns or leases a car or ebike
- My family has a bank account, savings account and some credit history and/or access to credit
- My family can handle a major unplanned event such as a car repair or medical bill
- We have 3-6 months of living expenses in our checkings/savings
- My family’s annual income is in the range of $120K-170K
- Our monthly income covers our monthly expenses with some leftover
- My family has some expendable income and is able to buy some new items and thrift others
- 20-30% of our income goes toward rent or mortgage on our primary home
- My family can take a vacation annually or every few years
Bucket D
- Any debt my family has is in service to future financial stability or wealth accumulation such as mortgage payments, student loans etc. and/or I am comfortably able to make monthly payments
- My family contributes regularly to savings for things like retirement, college funds etc.
- We have more than 6 months of living expenses in our checkings/savings
- My family’s annual income is in the range of $170,000-$230,000
- Under 20% of our income goes toward rent or mortgage on our primary home
- Our main income is a from salaried or professional/managerial jobs
- My family can afford to take vacations annually
- My family has an expendable income
Bucket E
- My family does not have any debt
- My family has other investments, brokerage accounts, property, trust funds etc. beyond our checkings and savings accounts and retirement funds
- Most of our financial decisions are based on wants, not needs
- My family has a year or more of living expenses in checkings/savings
- My family’s annual income is in the range of $230K+
- One or more of my family’s main source of income is from passive sources such as investments, inheritance, trust funds or family allowances
- Under 10% of our income goes toward rent or mortgage on our primary home
- My family can afford to take vacations throughout the year
