Reply to FAFSA - is middle-class waste time applying?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Many likely were not taught to save.

That is not a character flaw, but it is an obstacle.

My DH and I were not taught this either, but being married and working together we have improved our financial literacy over decades and are lucky to have DCUM UMC salaries.

We are terrible savers, but if we can automate and never see the money that works for us.

I think the “pay yourself first”, meaning savings, mentality is great but hard for many people who don’t think long term to execute.  This is not something taught in school or society.  People do not talk about money and people don’t like feeling as if they do not make as much as their friends and neighbors.  It is hard for many to say “I cannot afford that” because of shame.

It is easier to live on a salary of $150K than to have a salary of $300K and live on a salary of $150K.

Those that are better at savings appear to balance the pain of frugality with the joy of experiencing superiority.

People feel bad that private college is expensive and they cannot afford to give that to their children.  College is crazy expensive.  There are less expensive options.

Our children will be better off for not getting everything they want.[/quote]

No, it’s easier to live off $300k and save a lot than 150k.  Your poor choices are not colleges problem.  It’s yours.  We talk about money in our home all the time. [/quote]

Most seem to forget that life is all about choices.  They could live off $150K easily.  They just chose to spend more and save less.  In fact, it would only take a few years living off $150K and they would have enough front loaded for college to increase their living up to $200K and still contribute to college and everything else. [/quote]

There is so much holier than thou on this forum.

It takes resolve that many people do not have to earn $300K and live like year earn $150K.

Why don’t the people that make $150K live like they make $75K and save the difference?  You could say this at any income level.

Look, I am not saying that people that make $300K should qualify for financial aid.  They should not.

And there is a range of circumstances of families that have saved various amounts and will choose a variety of schools.

But all this condescension implying it is so easy ignores many of the realities of life.  What is easy for one person is hard for another.

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It is all about choices.  If you lived on $150K when that's all you made, then you most certainly can easily continue to live like that.  Do that and save your extra income for a few years and your kids will be set.  However if you feel you must "keep up with the Joneses" that is your choice.  But do not complain that you "cannot afford" college for your kids.  That is a choice you made.  You chose to get the bigger, nicer house, to take that trip to Europe (or wherever else), to get a more expensive new car (vs driving your 5 yo car a few more years or getting a new Toyota or Honda instead of a new Tesla) No, it is not hard to continue to live off of $150K.  It's what responsible adults do---you chose to have kids so you could choose to direct savings towards college, since you wont be eligible for aid.  Or you choose to know that your kids will attend $40K/year schools (be that state or privates with merit or OOS with merit) because you chose to spend more money on Extras, rather than saving for colleges that cost more.

So yes, some people find it hard to be a fiscally responsible adult.   However, you must then live with the results of that.  It's a You issue, not everyone else's and your kids are not entitled to financial aid just because you were irresponsible.

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