Hey Mom and Dad – Can you spare a dime? (or more!)
Saving for college is tough. Meg and I promised our two kids Jonathan and Alexandra, aka the money pits, that we’d pay for a four year college education, books and housing included. The economy continues to inch along, the four years turns into four and a half years and we find that we’re a bit short on funds. Like most of the money they need! What to do? Property taxes are due at the end of the year and we don’t escrow.
The first thing I did was explain to our two young adults the reality of our situation. Still teaching them, I hoped they’d further understand how life is outside the semi-protective walls of higher education.
Many of us refer to this as “the real world.”
Oh, they get it, but they don’t like it. They both have jobs, so I can’t guilt them into getting off of their respective asses and finding employment.
We explain to them that they economy is struggling and a college education is not paid for like it is in other countries. We gently remind them of the importance of a four year degree and how it opens doors of opportunity that might otherwise remain closed.
They understand, but can’t fully appreciate what waits for them outside their hallowed halls. Or do they?
Maybe mom and dad are naive, because both kids are talking about perusing their doctorate which I think might be paid for by the university. In the meantime, Meg and I came up with some creative ways to get the money they’ll need to complete their last semester’s requirements. I swear this did not include the harvesting of anyone’s organs. This includes our dog.
College can be such a drain on finances. When you are in your 40’s and 50’s you are the “sandwich” generation – between your aging parents and your college-aged kids. Lots to do and lots to keep up with – but all SO worth it in the end!
I have never even saved up money for anything. less long for college for the kids I do not yet have. This revolting development is due in most part because I was wrongfully convicted for a crime that I did not do, where I had served 25 yrs. of a natural life sentence and I was just 20 yrs. old when I was imprisoned. Ya, like most individuals, there was an attempt to teach me about the value of a dollar and the importance of saving, but those teachings had absolutely no practical application in my real world… One must first make money to save some, and I was raised on food stamps. I have always been able to find some kind of work as a short order cook, stock boy etc., and although my father did give me some financial support I had little to no room to save anything. I didn’t think like that. Now with the help of knowledgeable, concerned and generous people like Scott Lesnick and David Protess I am just now getting it.
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