<p>Insomniatic</p>
<p>$9600/1460=$6.58/day. We view that as a huge return on investment since in return D is required to make schooling, grades and graduating in 4 years her top priority. If she decides to get a job in spite of her parents largess, and voluntarily saves, thus practicing long term gain for short term pain…more power to her.</p>
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<p>Huge return on investment? So you’re saying your daughter wouldn’t do the same in school if she wasn’t given a nice allowance?</p>
<p>So you are almost paying your daughter almost $10k to go to college, get good grades, and graduate in 4 years?</p>
<p>Insomniatic; Okay…wow…either your really really don’t understand my point or you are being intentionally argumentative due to …oh who the heck knows…I surrender…you win. Match point…congrats and numerous atta boys (girls?)</p>
<p>I will retain my sense of joy at being able to make the kiddles college experience something which does not require cases of Top Ramen at discount prices, allows them to experience the fruits of their job labors, gives them the opportunity to save or not and then experience the consequences. Works for us…we are pretty proud of how both are managing all aspects of their lives.</p>
<p>Oh yeah…D was saving for her spending money during her study abroad time, but…me bad…will actually contribute toward that…we are leaving her a note on her pillow tonight with a chocolate heart and and a $$ amount…she doesn’t expect it, we don’t owe it…she will offer to not take us up on the offer…but it brings us joy. :)</p>
<p>And…the gift of a watch which D brought back for her brother brought him joy also…guess that is paying him to show up on time…better stop that before it gets out of hand.</p>
<p>I may regret jumping in at this point, but my daughter picked the school that offered her a nice scholarship rather than attending Chicago or Georgetown where we would have been full pay. I happily go to the bank each month and make a deposit that covers rent, utilities, and groceries. I feel fortunate that we do not have to scrimp to pay tuition at a very expensive college.</p>
<p>My daughter keeps her NM money that she gets each semester and saves it for bigger purchases. Lucky girl. She still is pretty thrifty and manages what she gets each month. I am thrilled that she does not have to worry like I did.</p>
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<p>Don’t you cover all education and grocery costs? Isn’t the $200 essentially spending money?</p>
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<p>Isn’t getting a college degree for free the fruits of their job labors?</p>
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<p>You HAVE to pay?</p>
<p>Something we planned as parents was funding college educations for our kids. It isn’t for everyone.</p>
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<p>I meant the expensive part, not the paying part.</p>
<p>Insomniatic, why so combative? Teaching fiscal responsibility and enjoying the capacity to be generous to our children are not mutually exclusive. We can and should help our kids watch their spending and learn to be frugal, of course. But I work hard in part so I can give my children opportunities and, yes, gasp, some small luxuries. I see nothing to be gained from enforcing a Spartan life when I can afford to do otherwise, and I can certainly see nothing gained from your judgmental sarcasm.</p>
<p>MD: Thanks for jumping in…and…same here. We had several adult level conversations with D (and now with S who will be a HS senior) regarding the ‘whole package’. We were lucky, blessed, struck by the happy lightening bug…whatever metaphor you want to use in that D fell in LOVE LOVE LOVE with a campus that agreed that she was a good match. It is a relatively inexpensive ( in the big scheme of things) place while at the same time being highly ranked and recognized for what she is pursuing. </p>
<p>D has an amazing generosity of spirit. A few years ago she and I stopped at a local jewelery store to drool on the display case. I pointed out a one of a kind antique ring and said…hey…tell Dad this would be a wonderful Mother’s day gift. Well, I opened a package containing that ring on Mother’s day. D had purchased it with her allowance - and yes, it was well above one month’s worth. I felt very guilty accepting that gift. D just smiled and said she’d been planning and saving for months to make it happen…it brought her joy! It is one of my most cherished possessions, not for the $$ value but for what it represents. She had 8 days between the end of the term and the start of her study abroad. The first 48 hours she was home she spent sewing a quilt for grandma’s birthday - one she’d spent time designing and saving her allowance $$ for the fabric purchase. We kept the kids on a short and consequential financial leash during their younger - at home - years so they would have the life skills which they do now.</p>
<p>Insomnitatic: breathe in…breathe out…breathe in…breathe out…downward facing dog, Shavasina with eye pillow…repeat as needed.</p>
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<p>Combative? Judgmental? Just asking very, very simple questions.</p>
<p>I’m just trying to understand your reasoning. Calm down.</p>
<p>I see from your profile that you are very young, insomniatic. Never did I imagine when I was your age that college would cost what it costs today. Never did I imagine that I would have an absolutely brilliant child who would use her talents and excell academically. Nor did i i imagine that we would be in a position to get no financial aid. Lucky us, sort of.</p>
<p>If our daughter had said that she wanted to go to the tippy top school, we would have let her and helped her. She might have had some loans just to have some skin in the game, but I am not certain.</p>
<p>Anyway, this is all slightly off the original track.</p>
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<p>I’m always calm, no need for that. Just wanted to understand your reasoning.</p>
<p>I just never heard of a parent who gives their child $200 in spending money on top of food and tuition.</p>
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<p>You are completely missing the point MD Mom.</p>
<p>I was referring to your comment:</p>
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<p>I don’t understand the word HAVE to. Why scrimp when your child could attend many schools that aren’t that expensive?</p>
<p>You need to get out more. I am not posting what I put in the account every month.</p>
<p>When my daughter was a senior in HS, only one school in the country was more expensive than Georgetown. We would have scrimped to pay out of earnings and not liquidate assets, since you asked.</p>
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<p>Coming from the person who has 4 times more posts than me.</p>
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<p>Nobody asked you. Just asked a question which you failed to answer.</p>
<p>Read between the lines. Thanks for reminding me about my posts. I need to get off here now.</p>
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<p>lol You’re funny.</p>
<p>Insomniatic; again…let’s try…breathe in…breathe out…breath in…breathe out…</p>
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and please give a number which defines not expensive…</p>
<p>And I can see your point about not understanding a parent giving their kid $200/month while food and all else is covered. It may be a bit on the austere side. :rolleyes:</p>