@AngelaD – I haven’t gone as far as matching his spending money yet. So far have only doled out money that was in his bank account that he completely forgot about. (OK, I filed the statements as soon as they arrived…but I can assure you that I would never have forgotten I had money in the bank when I was his age!)
I have another $1000 in savings bonds that I can ‘release’ to fund the Roth, if needed. Not big dollars, but I want him to get used to the idea of saving something. His tax refund is another bonus each spring. More than covers the Gov Ball tickets!
We’ll probably give D luggage for graduation. She’s going to be doing a lot of international travel, so we’ll need to consider weight, size, and durability.
I like the look of those backpack-suitcases.
She does not want a graduation party. Her sister is graduating college in May and will be getting a party.
I told H we should throw an empty nest party in the fall
@cleoforshort Good report! Yes I like the idea of Early Evaluation. I don’t think any other colleges on her list had that or anywhere her brother applied 5 years ago. I just asked her what made her love W. Today’s answer was it was the college where she could most see herself part of the community immediately. And the support given to students in many ways.
Grad Party: Our graduation ceremony is in the morning so we are having a lunch at a nice restaurant for family and close friends. His school has a grad night for the seniors from 6:00pm - 2:00 am so he will do that.
Grad Gift: His 18th birthday and graduation are the same week so as a combo gift we are taking him and 3 friends to the beach for a little vacation.
Luggage- the rolling duffle bag from north face can really handle some wear and tear though it is a little pricey but we got ours on sale.
@CA1543 your travel wish list sounds like mine. I did a report on the Galapagos Islands in grammar school and have wanted to go ever since! I actually took D on a trip to Europe two years ago - London/Amsterdam/Paris It was awesome and definitely gave her the travel bug!
@itsgettingreal17 I bought us luggage from ebags - carry ons - they’ve been on tons of trips and very sturdy so I would image the large pieces would be as well. Also, lifetime guarantee!
@payn4ward wow, that’s cool they uploaded mid-years already, D’s semester doesn’t end until next week I think. Since she’s borderline on the physics grade, I almost hope they’re not as quick!!
@STEM2017 Ahhhhh, budget lessons, yes it’s time. D has “personal finance” this semester which is now required. It’s good because it seems like anything I’ve ever tried to teach her about budgeting goes in one ear and out the other! Like @CT1417 I suggested she open a Roth IRA last year. I told her if she does it now, she could be a millionaire by the time she’s my age.
Color Orange: It’s my dad’s favorite color. My D finds that amusing and loves buying him anything orange.
@Fishnlines29 Personal Finance should be a mandatory one semester class for every high school senior with real exams and grades so they actually pay attention.
DD had her Middlebury interview today and the woman asked her how many colleges she had applied to - that seemed to be crossing the line for me. If the schools don’t find out via the Common App and FAFSA are they now going to send out their interviewers to find out that info? Eh, maybe I’m being too sensitive, but she also asked where Middlebury stood on her list. I don’t like it. DD was honest so I guess we’ll cross it off the list, LOL.
@cleoforshort – I agree with you that the Midd interviewer crossed the line with those questions. Now I have to go ask my son what he has discussed in his interviews!
@Fishnlines29 – it’s the older son with the 529. Younger son has never earned any W-2 income but I plan on that changing soon. Older son lifeguarded summer before he turned 16 and has worked steadily; younger one does ‘research’.
@STEM2017 – I think my older son took a HS course on business & personal finance. I cannot recall the specifics but every now and then he mentions something the teacher told them, such as importance of establishing credit. Makes my job easier as he would never hear the same thing if I said it.
I’m not a fan of making personal finance and similar life skills mandatory classes. I prefer class time spent on academic subjects and the rest I’ll take care of at home. I’ve already done the whole personal finance thing with my D.
Luggage is an awesome grad gift suggestion, taking it to heart. Our kid is also going to need a reliable car. Right now he has a car that a 90 year old neighbor gave him. The car is in fact 3 years older than he is, but it has only 12k miles. It is starting to have issues. He needs a reliable car.
Prom! - Our 6’4" boy, who can dance! Was dating a senior last year, and has already been to 3 proms, 2 with friends. Girls are so much more aggressive than in my day. No girlfriend this year, but he already has 2 prom invites. One from a very good friend who is a world class volleyball star, brilliant, beautiful girl, recruited everywhere. She is 6’. She told him he has to take her to the prom because he is the only guy tall enough to do it. I love this girl. Love her. Did I say it already? I love this girl.
My sister gave our kids dancing lessons while they were growing up. At the time it was kind of a PIA to me. But boy, what a joyous, wonderful skill. To dance. She told my boy that there is nothing more attractive than a guy who can dance. I am happy he took her advice. She was right.
My kids had a short finance class in 8th grade which was great. They were given a family situation (size, roles), income, then real life “problems” like a car breaking down and they had to create a budget.
In today’s mail - a full tuition scholarship from the Business Honors Program (BHP) at UT and D is a semi-finalist for the 40 Acres scholarship at UT. Both were very much unexpected. The 40 Acres would be a game-changer.
@itsgettingreal17 - How great about the the BHP and about UT Austin’s 40 Acres! Is D17 interested in Plan II Honors? They were on my D’s original list, but ultimately she didn’t apply.
Also, I agree that the Middlebury alum crossed the line. I know that often when kids are being considered for big scholarships, it’s not unusual for them to ask during a scholarship weekend (this is especially the case if they are hoping to lure ivy-bound students). But that’s bizarre coming from an alum.
QOTD - I liked the fact that after the AP Calc exam last year, D17’s math teacher had the kids do a project about finances and budgeting where the students had to put together a budget including mortgage payments, household expenses, student loans, etc. D decided not to live in CA – didn’t work with her budget!
