Reply to Breakout for allowance- 30% college, 40% spend, 20% charity, 10% future.. ?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Yeah, right. I give my kid 5 bucks a week and let him save for college. And he better have the money together by the college time!
It's great to teach them to save, but let's stay grounded in reality.[/quote]

It's reality.  My son is saving $2/week for college.  Even if you only required a $2/week savings for every year of K-12, that would be over $1200.  It's not going to pay for a semester at UVA, but it would pay for two semesters of books.  Spending money for more than a semester.  We are planning to increase the amount once he is older, but that's what he's saving in FIRST grade.  it's important, IMO, for kids to have some skin in the game for college expenses, and to know that from the start.[/quote]

But it's not "reality".  In "reality" you're giving him the money.  Whether you pretend to give it to him $2 a week from first grade, or you give it to him as a lump sum at the beginning of freshman year to pay for books, it's still your money, and your skin in the game.[/quote]

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