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[quote=Anonymous]

OP - It sounds as if your daughter has had good financial training at home so far.  I would encourage you and your DW to sit down with DD and go over what her monthly budget is for the school year ahead so that she can get an idea of just where "extra money" might go quickly go.  If she has had a summer job, then I do think it is reasonable that you have had her save at least some of it for college as appropriate to your family's outlook.  In any case, one would assume that she does have "a budget" of money from you and DW for certain expenses or possibly for some and so much from summer earnings.  Take one or both streams together and sit down with her to  look at:  clothes, cell phone,
gas, personal care (hair cuts, nails, makeup) expenses, weekly entertainment, school lunches or eating out at lunch time.  You might also include a listing of what you estimate car insurance and general maintenance on her car (if she has one).

We were from a family of eight and as the oldest, my folks did pay for all applications, college visit trips (including a one-day flight down with my Dad to see Georgetown U, GWU and Trinity many years ago and I went to GWU.) and they covered most costs of college.  I was expected to pay for books and weekly incidental expenses.  When I decided to go abroad for a summer program in Mexico, I earned the money to do so by working 20 hours a week while in college as a junior.  We all also all worked during the summers and I at least baby sat in high school.

You do not indicate if your daughter is a top student or has a particular career field she would like to follow.  Coming from Boston, I would say if a top student, she might have a better chance of a good package from Simmons College than Smith.  Also if she does have time on her hands during the school year, she could pick up some real easy money doing sitting and even at college.  So just keep the conversation going about how well she is doing, but tweak what might help her master financial like skills.

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