Comments on: Talking to Kids about Heading Off to University/College Part 1 (of 4) http://gailvazoxlade.com/blog/archives/1759 Thu, 09 Feb 2012 11:17:54 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Talking to Kids about Heading Off to University/College Part 4 (of 4) « gailvazoxlade.com http://gailvazoxlade.com/blog/archives/1759/comment-page-1#comment-36273 Talking to Kids about Heading Off to University/College Part 4 (of 4) « gailvazoxlade.com Fri, 04 Jun 2010 10:16:59 +0000 http://gailvazoxlade.com/blog/?p=1759#comment-36273 [...] Part 1: cash flow management [...] [...] Part 1: cash flow management [...]

]]> By: Talking to Kids about Heading Off to University/College Part 3 (of 4) « gailvazoxlade.com http://gailvazoxlade.com/blog/archives/1759/comment-page-1#comment-36124 Talking to Kids about Heading Off to University/College Part 3 (of 4) « gailvazoxlade.com Thu, 03 Jun 2010 09:39:55 +0000 http://gailvazoxlade.com/blog/?p=1759#comment-36124 [...] Part 1: cash flow management [...] [...] Part 1: cash flow management [...]

]]> By: Talking to Kids about Heading Off to University/College Part 2 (of 4) « gailvazoxlade.com http://gailvazoxlade.com/blog/archives/1759/comment-page-1#comment-35911 Talking to Kids about Heading Off to University/College Part 2 (of 4) « gailvazoxlade.com Wed, 02 Jun 2010 09:30:52 +0000 http://gailvazoxlade.com/blog/?p=1759#comment-35911 [...] Part 1: cash flow management [...] [...] Part 1: cash flow management [...]

]]> By: Geoff http://gailvazoxlade.com/blog/archives/1759/comment-page-1#comment-35813 Geoff Tue, 01 Jun 2010 13:39:48 +0000 http://gailvazoxlade.com/blog/?p=1759#comment-35813 @ Jill -- you don't. But your goal as a parent (I have a 3 year old) is not I think to pay for everything. But rather to do what you can to do what you can. You should be saving for your son's education in an RESP (see gail's articles on these). Stay away from group resps like Heritage, USC, etc. For me personally my goal is to put in the max of $2500 each year + the $500 from the government, and no more. And in year 18, it is what it is. @ Jill — you don’t. But your goal as a parent (I have a 3 year old) is not I think to pay for everything. But rather to do what you can to do what you can. You should be saving for your son’s education in an RESP (see gail’s articles on these). Stay away from group resps like Heritage, USC, etc. For me personally my goal is to put in the max of $2500 each year + the $500 from the government, and no more. And in year 18, it is what it is.

]]> By: Jill http://gailvazoxlade.com/blog/archives/1759/comment-page-1#comment-35801 Jill Tue, 01 Jun 2010 10:59:40 +0000 http://gailvazoxlade.com/blog/?p=1759#comment-35801 I didn't go to college and neither did my husband so we aren't really sure how it all works. We have one son (7) and I am saving money for him for his future now. But how do you know how much will be enough?? I realise whatever there is will be less he has to borrow or come up with somehow else but I'd like to have enough to give him a really good headstart. We aren't well off by any means so chances are he'll have to fend for himself in one way or another but just hope we're getting him on his way. How do you konw what will be enough? I didn’t go to college and neither did my husband so we aren’t really sure how it all works. We have one son (7) and I am saving money for him for his future now. But how do you know how much will be enough?? I realise whatever there is will be less he has to borrow or come up with somehow else but I’d like to have enough to give him a really good headstart.
We aren’t well off by any means so chances are he’ll have to fend for himself in one way or another but just hope we’re getting him on his way.
How do you konw what will be enough?

]]> By: Gail http://gailvazoxlade.com/blog/archives/1759/comment-page-1#comment-35799 Gail Tue, 01 Jun 2010 10:07:25 +0000 http://gailvazoxlade.com/blog/?p=1759#comment-35799 She knows when she's home she can use my machine and supplies so she'll save up her dirty clothes and do 'em when she's visiting. She knows when she’s home she can use my machine and supplies so she’ll save up her dirty clothes and do ‘em when she’s visiting.

]]> By: Tweets that mention Taking to Kids about Heading Off to University/College Part 1 (of 4) « gailvazoxlade.com -- Topsy.com http://gailvazoxlade.com/blog/archives/1759/comment-page-1#comment-35783 Tweets that mention Taking to Kids about Heading Off to University/College Part 1 (of 4) « gailvazoxlade.com -- Topsy.com Tue, 01 Jun 2010 04:28:06 +0000 http://gailvazoxlade.com/blog/?p=1759#comment-35783 [...] This post was mentioned on Twitter by Florence Bernard , David Kimball. David Kimball said: Taking to Kids about Heading Off to University/College Part 1 (of ... http://bit.ly/9qwZBl [...] [...] This post was mentioned on Twitter by Florence Bernard , David Kimball. David Kimball said: Taking to Kids about Heading Off to University/College Part 1 (of … http://bit.ly/9qwZBl [...]

]]> By: inge http://gailvazoxlade.com/blog/archives/1759/comment-page-1#comment-35753 inge Mon, 31 May 2010 22:49:13 +0000 http://gailvazoxlade.com/blog/?p=1759#comment-35753 I wrote a column for our student newspaper, "How to run your own household", in the form of a column detailing "my" (in fact, collected from stories, letters and anecdotes) misadventures in cooking my own food, doing my own washing, cleaning the loo, trying to keep potted plants alive, and the like. So true on learning how to cook, clean and do the washing *before* one leaves home! And food safety... One girl was wearing pale pink for a term because she had put her new red shirt in the washing with the white. A guy nearly killed himself trying to use a gas stove. (He didn't know you had to *light* it.) Another girl managed to have a can of soup blow up in her place because she did not realize that when a can of soup starts to bulge, it's high time to get rid of it. It was amazing. I didn't touch money issues, because I was beyond privileged on that and felt that I could not do other people's real troubles any justice. I wrote a column for our student newspaper, “How to run your own household”, in the form of a column detailing “my” (in fact, collected from stories, letters and anecdotes) misadventures in cooking my own food, doing my own washing, cleaning the loo, trying to keep potted plants alive, and the like. So true on learning how to cook, clean and do the washing *before* one leaves home! And food safety…

One girl was wearing pale pink for a term because she had put her new red shirt in the washing with the white. A guy nearly killed himself trying to use a gas stove. (He didn’t know you had to *light* it.) Another girl managed to have a can of soup blow up in her place because she did not realize that when a can of soup starts to bulge, it’s high time to get rid of it. It was amazing.

I didn’t touch money issues, because I was beyond privileged on that and felt that I could not do other people’s real troubles any justice.

]]> By: Canuckguy http://gailvazoxlade.com/blog/archives/1759/comment-page-1#comment-35739 Canuckguy Mon, 31 May 2010 20:49:38 +0000 http://gailvazoxlade.com/blog/?p=1759#comment-35739 Good topic. I had an friend(this took place about 10 years ago) whose daughter worked at his place of employment, lived at home, fed her meals, the daughter earned a take home of of $9000, (no income tax taken off) pretty good for the 4 months of summer employment. Her father paid the tuition and residence fee for the university year(8 months) while he expected her to have saved enough to take care of her general personal expenses for the whole year. Well she arrived home at Xmas time flat busted broke. I had warned him earlier to take a more direct interest and stop assuming she had money sense. Any, he lectured her but she went and repeated the whole thing again the following year. Turns out she did a lot of partying during the summer and the first semester. He finally cracked down on her but it came too late as she flunked out in the 3rd year, her marks were just barely passable the first 2 years anyway. She had a whale of a time but is now working at Burger King. Good topic. I had an friend(this took place about 10 years ago) whose daughter worked at his place of employment, lived at home, fed her meals, the daughter earned a take home of of $9000, (no income tax taken off) pretty good for the 4 months of summer employment. Her father paid the tuition and residence fee for the university year(8 months) while he expected her to have saved enough to take care of her general personal expenses for the whole year. Well she arrived home at Xmas time flat busted broke. I had warned him earlier to take a more direct interest and stop assuming she had money sense. Any, he lectured her but she went and repeated the whole thing again the following year. Turns out she did a lot of partying during the summer and the first semester. He finally cracked down on her but it came too late as she flunked out in the 3rd year, her marks were just barely passable the first 2 years anyway. She had a whale of a time but is now working at Burger King.

]]> By: Geoff http://gailvazoxlade.com/blog/archives/1759/comment-page-1#comment-35736 Geoff Mon, 31 May 2010 20:13:57 +0000 http://gailvazoxlade.com/blog/?p=1759#comment-35736 Hey Gail, I don't understand why Alex's laundry will cost less when she's at home. Presumably her laundry needs will remain constant. Did she assume you'll subsidize the cost? Hey Gail, I don’t understand why Alex’s laundry will cost less when she’s at home. Presumably her laundry needs will remain constant. Did she assume you’ll subsidize the cost?

]]> By: Poetic Justice http://gailvazoxlade.com/blog/archives/1759/comment-page-1#comment-35735 Poetic Justice Mon, 31 May 2010 20:11:17 +0000 http://gailvazoxlade.com/blog/?p=1759#comment-35735 Great job you are doing Gail, and your lastest blog entry is very relevant for all of us with kids... so just to ensure the message is not lost, pls update the heading to " talking to kids about heading off..... as opposed to what it is right now "taking to kids.... a lil typo that i'm sure you can correct in a jiffy. Great job you are doing Gail, and your lastest blog entry is very relevant for all of us with kids… so just to ensure the message is not lost, pls update the heading to ” talking to kids about heading off….. as opposed to what it is right now “taking to kids…. a lil typo that i’m sure you can correct in a jiffy.

]]> By: Amelia http://gailvazoxlade.com/blog/archives/1759/comment-page-1#comment-35707 Amelia Mon, 31 May 2010 17:08:15 +0000 http://gailvazoxlade.com/blog/?p=1759#comment-35707 Teach them how to clean as well as cook before you ship them out too. Teach them how to clean as well as cook before you ship them out too.

]]> By: ste http://gailvazoxlade.com/blog/archives/1759/comment-page-1#comment-35705 ste Mon, 31 May 2010 17:00:57 +0000 http://gailvazoxlade.com/blog/?p=1759#comment-35705 thank you gail for yet another very informational blog. my dd graduated with her masters and is thankfully well employed in her field; however, like many others she is carrying her student loan debt. we had many money discussions prior to her heading off to university, where she secured 2 degrees. after deciding where she wanted to study definitively, and which area of forensic psychology to pursue, she took one year off, saved hard, lived at home, sold her car, applied for every scholarship and grant she could find. i am proud that when she graduated she had a very realistic payment plan, and though she lives in high priced new york city, she has yet to have to ask either her father or myself for financial assistance. i make it a habit to gift her $$$$ for birthdays & special events, and our Christmas tends to be a shopping spree (all cash, yes!) on mom's specially-saved and jealously guarded savings account, set aside throughout the year for this specific purpose. my mother and father were thankfully very money wise, and taught me the same. it's taken me years to put some of those lessons to work but i am proud to say my daughter truly learned most of her skills from her grandma. and yes, grandma also made sure we both know how to cook, and clean, and do our own laundry. my daughter's payback plan will have her out of debt well before most of her 20 & 30 year old friends, who consider bar hopping a necessity. and yes, she does have a savings account. and a credit card paid off each month in full. she reads these blogs religiously, and continues to learn. just as her mom. thanks again gail, for reiterating what we can all put to use on a daily basis. practice make perfect. debt free to be, soon! thank you gail for yet another very informational blog. my dd graduated with her masters and is thankfully well employed in her field; however, like many others she is carrying her student loan debt. we had many money discussions prior to her heading off to university, where she secured 2 degrees. after deciding where she wanted to study definitively, and which area of forensic psychology to pursue, she took one year off, saved hard, lived at home, sold her car, applied for every scholarship and grant she could find. i am proud that when she graduated she had a very realistic payment plan, and though she lives in high priced new york city, she has yet to have to ask either her father or myself for financial assistance. i make it a habit to gift her $$$$ for birthdays & special events, and our Christmas tends to be a shopping spree (all cash, yes!) on mom’s specially-saved and jealously guarded savings account, set aside throughout the year for this specific purpose. my mother and father were thankfully very money wise, and taught me the same. it’s taken me years to put some of those lessons to work but i am proud to say my daughter truly learned most of her skills from her grandma. and yes, grandma also made sure we both know how to cook, and clean, and do our own laundry. my daughter’s payback plan will have her out of debt well before most of her 20 & 30 year old friends, who consider bar hopping a necessity. and yes, she does have a savings account. and a credit card paid off each month in full. she reads these blogs religiously, and continues to learn. just as her mom. thanks again gail, for reiterating what we can all put to use on a daily basis. practice make perfect. debt free to be, soon!

]]> By: aj http://gailvazoxlade.com/blog/archives/1759/comment-page-1#comment-35691 aj Mon, 31 May 2010 14:44:43 +0000 http://gailvazoxlade.com/blog/?p=1759#comment-35691 maybe Alex should do her own blog for all the college kids out there? would be good to hear how the planning and worksheets help on a day to day basis and how her story differs from fellow classmates who didn't get the same kind of money education. maybe Alex should do her own blog for all the college kids out there? would be good to hear how the planning and worksheets help on a day to day basis and how her story differs from fellow classmates who didn’t get the same kind of money education.

]]> By: Jay http://gailvazoxlade.com/blog/archives/1759/comment-page-1#comment-35690 Jay Mon, 31 May 2010 13:56:12 +0000 http://gailvazoxlade.com/blog/?p=1759#comment-35690 This is a great topic. I only graduated from university a few years ago and although I managed to come out in decent shape financially, I had no plan whatsoever. My parents thought that I was "good with money" because I'm definitely a minimalist when it comes to "things" so they didn't think it was necessary to have a conversation. I implore all the parents (and students) reading this not to make that mistake. While I didn't buy much stuff, I spent an insane amount of money going out for food and drinks. University/college is the first time that a lot of students become of drinking age. It's also a time when they are surrounded by friends and there are many bars within walking distance so they can spend, spend, spend without worrying about who's driving (a big deal for suburb kids, and probably country kids as well!) This is a great topic. I only graduated from university a few years ago and although I managed to come out in decent shape financially, I had no plan whatsoever. My parents thought that I was “good with money” because I’m definitely a minimalist when it comes to “things” so they didn’t think it was necessary to have a conversation. I implore all the parents (and students) reading this not to make that mistake. While I didn’t buy much stuff, I spent an insane amount of money going out for food and drinks. University/college is the first time that a lot of students become of drinking age. It’s also a time when they are surrounded by friends and there are many bars within walking distance so they can spend, spend, spend without worrying about who’s driving (a big deal for suburb kids, and probably country kids as well!)

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