Reply to College student spending of mom and dad's money

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[quote=Anonymous]We cover 100% of all costs - food, apartment,  socializing, eating out, uber eats, vacation, transportation, clothes, electronics etc - for our college student.  They earn internship money during summer and they put it in their Roth and investments.  They like to see their savings and investments grow. They have become frugal with their own money.

They have access to our Amazon account, our checking account, google pay, uber, starbucks, kohls, costco, macy's, REI.

We see immense value in this set-up because we have a fair idea of where he is spending and on what.    They never got allowances when they were little and we paid for everything.  And we always kept the generous cash gifts that were given to them by relatives and friends.  They were given 20K seed money when they started college, which they have invested.

They won merit scholarship of 100% tuition+ for college. So, they will be given a new car when they graduate + we will help with all the stuff they need for apartment, rental deposit, professional wardrobe etc. [/quote]

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