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Reply to "Teenager inherited 15k"
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[quote=Anonymous]I wouldn’t donate. If you’re the sort of family that doesn’t get your kids cars, I’d let him use some for a cheap daily drive type car and save the rest of he wants a car. I don’t know about the effect on college aid - were a full ride family but I’d consider what people have said about moving the money out of his name. And I’d recommend he save the rest after a car or whatever pressing desire he has. That first and last month rent plus security deposit can be a financial hit when you’re young. And it’s really nice to be able to travel when you’re young also. He’ll really appreciate your guidance down the road. [/quote]
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