Reply to Why do people think you have to spend so much on your kids?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We have 2 kids, we live in a 3 br townhouse in an exurb that has a 1400/mo mortgage, we send them to public school and we only save $2000 per year per kid for their college while having a 400k HHI. Rec soccer, cheap city summer camps. I don’t believe that you are morally obligated to financially strain yourself just to give your kids what society thinks is the ideal life. Our kids are very happy and don’t feel like they’re deprived from what I can tell. [/quote]
We live in a close-in neighborhood in an excellent school district. Our house has more than doubled in value since we bought, much more than we could have saved. You don’t sound financially savvy.[/quote]

so you leveraged yourself heavily and got lucky speculating on real estate, maybe indirectly if that wasn’t the main reason you bought, but I wouldn’t call buying a huge/expensive house on credit without lots of savings to back it up a good financial move. You gambled and it worked out, but it’s likely not reproducible in the current environment and if you advise a young person to do that today it would be considered a very risky choice.[/quote]
OP could have done that years ago, instead of patting themselves on the back for living in rural WV.[/quote]

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