Reply to controversial opinion: money & finances edition

Forum Index » Money and Finances

Reply to "controversial opinion: money & finances edition"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Some people on here save way too much for college.  If you're able to save that much, you can probably pay some as you go as well.  Let your kid pay for their own grad school. [/quote]

Agreed[/quote]

Make hay while the sun still shines. You never know when your money might leave, through a job loss, disability, death or other bad situation. [/quote]

+ 1

Save now while you can.[/quote]

Eh, if the money goes we qualify for financial aid. Right now we are paying daycare (3900/mo) and a mortgage (2000 Principal and interest) that will no longer exist when my kids are in college. If our income stays the same as it is right now, which isn't likely because we are in our 30s and will probably receive promotions and increases, that's $70K of cash flow that can be reallocated to college costs each year. Plus, it's not like we are spending all of our money every year. We are actually saving quite a bit. However we're putting it into retirement funds, paying down the mortgage, and general savings rather than earmarking it for college. [/quote]

I feel the same way.  We are putting money away for college, but I don’t know why there is so much pressure about it.  We had nothing saved for daycare when our incomes were considerably lower, and we were still paying mortgage, car, student loans, etc.

But then you have to remember that a lot of dcum has children much later in life.  So when their kids are born, they are in the place in their careers that I will be when my kids go to college.  And when their kids go to college, they will be starting to look at retirement.  So in that case, of course it makes sense to save a ton for college.  [/quote]

I think this is also an anxiety of the well-off. My parents saved hard for college but I was still eligible for 50% need based financial aid at a great school, and we considered ourselves comfortably middle class. I will save as much as I can and try to help my kids navigate the world of financial aid - if my income goes up so much we're not eligible, that would be extra money on top of our current budget and we would be very blessed.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics