Re: College Expenses
I'm having a hard time with that step, also. Technically, if I wait until I'm officially at step 5 then it will be too late, as my one and only will be starting college next year. We'll have to pay in cash as we go. But, if we were 100% doing the baby steps and we get to step 5 and it isn't funded yet, what would he say to that? Put off step 6 for four years because you're trying to keep up with tuition and room and board? Or not fund it at all?
My parents didn't have college money sat aside for any of us. If we wanted to go then we had to figure out a way to go on our own. I took a full load, worked, and got a student loan to carry the difference. Just my personal opinion, but I felt more responsible with my grades and keeping my nose to the grindstone BECAUSE I was having to pay for it.
All that being said we have decided the best course of action for our sitiation. Hey, everyone is at different places in their lives and can't do Dave's plan 100% every time. So, for us, we've decided to put away the yearly bonus the hubby gets for her college. Technically it should go to debt, since we are still on step 2. But if we wait we will have zip saved up to help (see above).
Now, this money will go to 'help'. It won't cover everything, maybe half her living expenses. Daughter will still need to have a job to cover what's left over. She knows this. As she's decided to go to a technical school instead of a university, this helps tremendously with cost. It is her future and her choice and she's choosing to go into dental assisting, which is a one year program. There is no tuition if she goes right out of high school, that is how it is set up with the technical school. However, the school is too far for her to drive daily, so this money we will save will help with living expenses for her year of training. I'm thinking of helping her set up a monthly budget, and then sending a portion of our 'help' monthly, making her responsible for the rest of her living expenses monthly.
For us I think this will work. We'll still feel like we are contributing, yet will also have her contributing to her own future as well. It's not perfect with the plan, but will work for our situation.
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