If you start planting seeds now with your two year old daughter then when the time comes for her to go to college she will be expecting to take care of that responsibilty and won’t think a thing of it.Encourage her to start saving a percentage of her money that is given to her for birthdays ect and all the jobs that she earns money at through her youth….I did that with my children and they had some money when they turned 18 to do what they wished to do with it.You could even take it another step and start planning to invest her money now and watch it grow…..there are places to invest small amounts of money.It will be a great education for you and her.
No one is criticizing a person’s decision to pay or assist in paying for a child’s college when the have the money. But, many do not believe it is smart for parents to go deeper in debt in the process. It is just not good business sense. The same would go for paying for a daughter’s wedding.
I know the government hold the kids hostage to the parent’s income, but it is not the government’s responsibility to pay either. When I finally went back to college, I had made too much the year before, but there is also another form that can be filed that basically says circumstances have changed. That did help secure a student loan and more grant money.
Thank you. I hope I’m able to convince her to save her money and not spend it on every little thing like I did and really still do. Even though my dad would tell me to save I didn’t and I never learned how to. Of course telling someone what to do and actually showing them are 2 different things.
My DH and I really going to try and buckle down this year and not spend every little cent we have on frivolous things for 2 reasons our mortage amount has gone up almost $500/mo and we really need to make repairs on our house so we can sell it. Thanks again for your support.