Re: Husband wants a new car
You guys/gals are crazy I would never pay ANY of kids college without some serious effort on their part. My oldest (senior highschool) has know for years if she wanted to go to higher end private school SCHOLARSHIP. Guess what? Did she want it that bad? NOPE!
Even now she is so all over the map a decent student 3.3gpa 26act......"Pre-law I think dad or Psychology maybe" to me so unfocused that I would never front the bill. If she was concise, planned, and focused had put forth the work to nail the grades and work the plan maybe, but with her attitude now eh eh. Great kid.......but not worth me shucking out 16K/yr for uncertainty. The deal is if she gets a 3.5gpa or above I'll pay any student loans she needs to take out if not "Oh well and within reason of course".
Part of this is from our upbringing our parents didn't provide ANYTHING and we busted tail took out loans have paid 70% of them off, but by taking out loans it forced us to focus and not party!!
I have friends whose parents paid for their school they got degrees and are stay at home moms or don't even use their degree in their current job. I know one or two that are career students school for the sake of school!!
For all of the "Save and pay for your kids college group" my kids would have to show some amazing focus for me to pay upfront. If not it's loans and then I'll pay them off with the correct GPA and pending graduation just like a employer does it.
As far as the car 50K is pretty silly when the income is 100k. You guys should be saving alot with the debt load you have now maybe work a 6-12 month plan, make sure credit is A+, a solid downpayment at 0-1.9% might be manageable 1-2 years old CPO car.
Last edited by OhGeesh; 02-22-2010 at 05:57 PM.