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[quote=Anonymous]Good advice above. I also think that the expectation for kids should be that any birthday or holiday money goes into college savings as their "found" money, and that kids can develop neighborhood jobs (i.e., petsitting, babysitting, yard work) before they get to summer after junior year of high school. Even if you don't demand that all of that money go into the college fund, you could do a 2/3 to fund/1/3 to them type split. Start talking early about college costs and saving for a better educational future (and start helping them understand the benefits of hard work).

In addition to cutting expenses as much as possible, look into things like Upromise and get the relatives to sign up for Upromise etc. to maximize the returns on what spending you do.

For what it's worth, I feel your pain -- we have had unavoidable and unexpected career moves that resulted in losing money on real estate in the recession, and recently starting over with a new mortgage on a modest house that no one on the Real Estate board would call nice although it is in a good school district and works for our opposite direction commutes. Sometimes you can't avoid the financial hits but you have to do the best you can with what you have.

Also encourage your kids to develop excellent study habits and support them in their school work so that they have the best shot at merit aid possible.[/quote]

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