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Each kid has their own savings account, but nothing specifically geared towards college at this point. DH and I should discuss it though. My parents paid for the majority of my college, but DH's parents didn't pay for any of his. I'm not sure what he'll want to do for our kids.
Nope. We have a savings account going from gifts we have gotten from family etc that we will split when the time is right. They can do with it what they want. I don't think that paying for their college is my responsibility.
no me and dh both agree that if they work hard and pay for it themselves then they will appreciate it more...of course we will help if they want to stay home while they go to college that will be fine....or if they need help with food or gas money every once in a while...things like that
I am not even doing a savings account for them....I never had one and do not wish I did...would it have made things easier? yeah of course.....but in the long run....having to earn your own money from the start makes you appreciate money and realize that it is not easily gotten but very easily gone....
Yes!! we absolutely will pay for everything all of our children need no matter what age they are. Education is one of the most important things we install in our children. We are also the type that would never dream of our children moving out at age 18. Our oldest 2 age 22 and almost 21 have their own place because they wanted to.
I agree with kiliki---Its also important to install the value of earning. The 2 boys are not only studying but have at times held a part time job while going to school so they do know that money does not grow on trees.
I have some debt I really need to pay off, things I need to fix that can't wait, etc. Once I'm caught up (or as caught up as is reasonable) I plan to start putting money away each paycheck. Once I have enough for maybe $500 for each kid, I want to open up an account for each of them for a car and then ultimately college. And for a car, they're limited to like $3,000 lol. I had to work hard for a decent car (still working on it) so I expect them to work for it too.