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Northstarmom · 03-04-2008, 09:21 AM

"What do y'all think -- my oldest has been irritating the heck out of me of late. Since landing a full ride, she's assumed that we "owe" her a portion of the savings, and has been finding ways to spend it. I say she should GET A JOB! What say you? Should the kids work while at school?"

My deal with my sons was that if they got a full ride, I'd give them part of the savings. Older S basically got a full ride. He also planned to work while in college and over the summers because he had the skills to get jobs in what was then a field he loved: journalism. He had a journalism internship lined up at a major newspaper (Kid was essentially a prodigy in that field), and a reporting job lined up at the school newspaper). With those earnings, I figured out he could save enough to be able to buy property by the time he was a senior.

I also had always required that he invest half of his earnings (He had been earning money since he was a high school soph), and had taken him to an investment counselor so he could select how to invest his money.

So, before he went to college, I had him talk to an investment counselor again, who showed him how he could invest so as to be a millionaire by the time he was in his mid 30s. I also had a real estate agent take him around and talk to him about how he could buy property in a few years.

I split with him the difference that his dad and I were saving as a result of his full ride. However, I required that S put half of that money into investments -- with me being the co-owner. I told him he could get all of the money when he turned 21 (If I could do it over, I'd have changed that age to age 25.)

Unfortunately, S ended up flunking out due to partying (But he did do a wonderful job in his internships and jobs), hasn't returned to school, and now by choice works in a job that's almost poverty level. But he's supporting himself. I think that he used his investments to pay off debts and fund his move to a new city.

My guess is that since girls mature earlier than guys do, your D would make better decisions with her money.

I do suggest that you talk to her about how she could benefit by working since she could use that extra money for investments, which could put her in a great situation by the time she's 30. I don't think you should require her to work.

I also do think you should split with her the difference of what her full ride is saving you.

And congratulations on your D's full ride!
I hope she'll be going to a college where she'll finally get some dates! This particularly is important for black females as I know many accomplished, beautiful black women who have seldom dated and never married even though they are in their 40s.

03-04-2008, 09:21 AM	#35
Northstarmom Senior Member Join Date: Aug 2004 Threads: 335 Posts: 11,790	"What do y'all think -- my oldest has been irritating the heck out of me of late. Since landing a full ride, she's assumed that we "owe" her a portion of the savings, and has been finding ways to spend it. I say she should GET A JOB! What say you? Should the kids work while at school?" My deal with my sons was that if they got a full ride, I'd give them part of the savings. Older S basically got a full ride. He also planned to work while in college and over the summers because he had the skills to get jobs in what was then a field he loved: journalism. He had a journalism internship lined up at a major newspaper (Kid was essentially a prodigy in that field), and a reporting job lined up at the school newspaper). With those earnings, I figured out he could save enough to be able to buy property by the time he was a senior. I also had always required that he invest half of his earnings (He had been earning money since he was a high school soph), and had taken him to an investment counselor so he could select how to invest his money. So, before he went to college, I had him talk to an investment counselor again, who showed him how he could invest so as to be a millionaire by the time he was in his mid 30s. I also had a real estate agent take him around and talk to him about how he could buy property in a few years. I split with him the difference that his dad and I were saving as a result of his full ride. However, I required that S put half of that money into investments -- with me being the co-owner. I told him he could get all of the money when he turned 21 (If I could do it over, I'd have changed that age to age 25.) Unfortunately, S ended up flunking out due to partying (But he did do a wonderful job in his internships and jobs), hasn't returned to school, and now by choice works in a job that's almost poverty level. But he's supporting himself. I think that he used his investments to pay off debts and fund his move to a new city. My guess is that since girls mature earlier than guys do, your D would make better decisions with her money. I do suggest that you talk to her about how she could benefit by working since she could use that extra money for investments, which could put her in a great situation by the time she's 30. I don't think you should require her to work. I also do think you should split with her the difference of what her full ride is saving you. And congratulations on your D's full ride! I hope she'll be going to a college where she'll finally get some dates! This particularly is important for black females as I know many accomplished, beautiful black women who have seldom dated and never married even though they are in their 40s.