<blockquote><b>Quoting Fairy [God] Mother ®:</b>" <blockquote><b>Quoting Colt's mommy:</b>" Oh, I didn't even think of a car!! My parents ... [snip!] ... up that if they choose not to go to college they won't just be handed their $, they will have to wait until they are 30 for it"</blockquote>



You could always offer to match whatever they earn/save. Like if they save up a thousand dollars for a car, you'll put in a thousand too. That's my plan.

Quoting Kelly&Coralie:" Cora doesn't quite get the idea yet. I'm working on it with her though"

Yea. Well, Kayleigh was kind of thrust into it by her choice to throw her lamp across the room, lol. Not so sure we'd have started it yet if that hadn't happened....but she seems to have really done a great job at comprehending what it all means. We use little money slips, and they go into a mason jar. She doesn't do the extra chores unless she has something in mind that she wants. She wants that train ride like I said, so yesterday she swept the front porch   earned her .75 cents

Quoting *Cade*Mak*Col*:" Same here. I paid for my college and I bought my car. I think I'll have my kids get school loans and ... [snip!] ... then I will pay their loans off for them. I'd hate to pay for their college abs have them be partying and failing classes!"

That's something I never thought about. Wouldn't it also help their credit?

Quoting **Hanna**:" <blockquote><b>Quoting *Cade*Mak*Col*:</b>" My husbands GI bill and the multiple ... [snip!] ... me. And they never bought me a car. Did it myself. I plan on saving for my kiddos. Give them a little better than what I had."

Mine didnt either. My DH bought my first car that was actually mine...And we pay for my college. We havent had to get a loan yet, I'm hoping when its time to transfer for my bachelors i'll be able to get alot of scholarships to help pay for it.....His parents bought his first car and after he wrecked it they made him work to pay for any car after that. He didnt go to college so they used his "college money" to help him buy land and a singlewide when he was 18. Which worked out perfectly because we were able to sell his trailer and build our own house here.

Quoting Momma2Nico&Noah:" <blockquote><b>Quoting Fairy [God] Mother ®:</b>" <blockquote><b>Quoting ... [snip!] ... match whatever they earn/save. Like if they save up a thousand dollars for a car, you'll put in a thousand too. That's my plan."

That's a really good idea too!! Hopefully I'll remember there in the next 10-15 years when it becomes relevant, lol.

Just a question, but how does buying your kid a car or paying off thier loans teach them the value of money?

(I've never had a car or gone to college cause I couldn't afford it and my mom wouldn't do either for me. Nor would I have expected her too)

As for college/cars. I'd like to chip in where we can. I believe DH and I have decided that we will match, up to 1,000 for a car when our kids turn 16 and have also demonstrated that they are ready for the responsibility.


We have a college fund set up, so whatever is in it by the time they're in college, we will use to help them.

<blockquote><b>Quoting Colt's mommy:</b>" I understand having to work to buy your car, but that difficult when you can't really get a real job ... [snip!] ... for and my cell phone (they were just starting to be used more, lol) I paid for. I would like to do the same for my LO/LO's."</blockquote>




Same here, even though my car was a gift I worked for gas $ to do stuff on the weekends and go out with friends etc. my cell phone was prepaid and I had to pay for my refill cards and stuff like that. My husband had to work for his car payment and decide what he could afford and his parents co-signed for the loan. I'm ok either way, even if we out $$ towards a car and they are responsible for what's left owed in payments of we we buy outright and give as a gift. I guess it depends on how things go between now and then lol. I hope we do a great job teaching responsibility & being good with $$. My cousins inherited $30k each at 18 from their father dying and they all blew it and have nothing to show for it so any inheritance my kids get, I want set up to where they don't get it until they are adults

<blockquote><b>Quoting *Cade*Mak*Col*:</b>" Same here. I paid for my college and I bought my car. I think I'll have my kids get school loans and ... [snip!] ... then I will pay their loans off for them. I'd hate to pay for their college abs have them be partying and failing classes!"</blockquote>




That's a good idea!

Quoting Kelly&Coralie:" Just a question, but how does buying your kid a car or paying off thier loans teach them the value of ... [snip!] ... a car or gone to college cause I couldn't afford it and my mom wouldn't do either for me. Nor would I have expected her too)"

I have no problem matching my kids for a car, give them some motivation to earn the money...etc. They'll be paying (at least part of the way) for insurance/gas/etc. It will be dependent upon many factors, including their overall behavior/attitudes.

As for college, once again, I have no problem chipping in. I won't give them a free ride though. Then again, I think teaching about financial responsibility starts early anyways. If you're JUST starting when they're 18, I think it would be much more difficult.

Quoting Kelly&Coralie:" Just a question, but how does buying your kid a car or paying off thier loans teach them the value of ... [snip!] ... a car or gone to college cause I couldn't afford it and my mom wouldn't do either for me. Nor would I have expected her too)"

Well, my parents bought my first 3 cars, and paid for my college and now my DH and I are completely debt free other than our brand new house we just bought and my car and we both make enough money to do the things we want to do and are more responsible than all our siblings. I've always worked since 12 and 14 yo, at times having 2 or 3 jobs, even through high school/college. Of course, every child is different and we will change plans accordingly if we see fit.

Quoting Colt's mommy:" Well, my parents bought my first 3 cars, and paid for my college and now my DH and I are completely ... [snip!] ... even through high school/college. Of course, every child is different and we will change plans accordingly if we see fit. "

Definitely.

Quoting the grace life:" Definitely. "

Yeah, DH's nephew is a piece of work. mil/fil have spent over $25k on him in the last 4 years and he has NOTHING to show for it. He's quit over 5 jobs for no reason, had a child at 16 and doesn't see or pay anything for him, and has quit highschool and quit college twice. So....If my LO acts like that, no effing way are we going to be spending that kind of money on him after he turns 18. We plan on raising our LO to be better than that though.

<blockquote><b>Quoting Colt's mommy:</b>" lol, yes, we've done this too but we have 2 piggy banks filled!!! What's the best way to cash that in? I hate that I have to pay so much for coin start but is that just the best way to do it?"</blockquote>




The best way is to go to the bank an ask for paper rollers for ur change then u roll it it yourself and then take it back and deposit it. Then u get all the money instead of paying the mechine

I started saving in earnest about 5 years ago.

We have enough in there to pay for her first year of college or university. That's it. She will be required to apply for bursaries and scholarships, and whatever she doesn't use from her first year will roll over into her second, etc. Also, if she fails a course, she pays us back for it.

As far as allowance goes, I don't "pay" for regular chores around the house...however, if she helps me out with a wedding at work, if she helps her dad change the oil in the car or do heavy duty yard work, she can make money that way.

As far as "matching funds" goes, instead we pay the taxes on larger purchases as our contribution.