<p>Dont blow the wad till the kid gets OUT of college. regardless of this poor economy and eminent collapse of everything.</p>
<p>Dad II, first of all, unless the friend asked for your opinion, I wouldn’t suggest offering it. However, if you’re just musing on the CC boards, that’s acceptable!</p>
<p>Personally, I am ridiculously conservative with my finances. It wouldn’t cross my mind to “blow” money … ever. There are too many uncertainties in life. I once did get a windfall. It was spent on private school for the kids. We didn’t even use any for a fancy vacation. I have a new job. While it doesn’t pay much in the scheme of things, it pays a bunch more than my part time work had been paying. However, it won’t change anything in our lives. We will simply fund my retirement account, pay for college without borrowing, take care of home expenses as necessary (the windows need replacing …). If we replace a car, it will be with a used car. </p>
<p>I guess I’m not the one to ask for permission to blow money! :)</p>
<p>This started as a typical “I am one up” conversation with two asian parents. The friend told me that their kid got so much FA that they have all these cash left. “We will take some nice vacations and may be even buy a nice car” was his comment". Not wanting to let him have the one up on me, I said “its better to have cash in hand now”. </p>
<p>I don’t know his income nor his retirement situation. </p>
<p>This thread was intended to discuss what is the best way to handle some cash now. Many thanks to a lot of you that offered many other things to consider. Don’t know if the guy is on CC or not. But I think the general feeling is that one should not blow the money, except a couple nice vactions. He might know this already but was trying to be one up on me.</p>
<p>PS, my company is tracking the web use so I am only coming to the board after work. Those who come to CC on their job better be careful. They told me that post on BBS in general could be used as evidences as everything going out on the network could be recorded.</p>
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<p>X2.</p>
<p>(Also, I’m fairly low-income so I can’t imagine ANY surplus cash that would not be helpful. Still, they could pay off loans early, save for grad school…)</p>
<p>The excess that we had was turned over to son. Which is bening used to fund his IRA, HSA, 529 for his possible children, to pay off the his student loans, and a cushion to his lack of employment. He has another job lined up, another short-term academic/research position and definitely not permanent. Hiring Freezes are in effect.</p>
<p>We waited 6 years, after graduation BS,MS degrees, before we started reallocation to his accounts.</p>
<p>Dad II…agree with you on use of work email accounts. This should be done from your HOME account only…not work.</p>
<p>Lay out a budget based on current income and add a bucket for recreation. Ideally, it can be done out of current income in addition to adding to savings. Or take the vacation out of the income from the savings but leave principle alone. If you make a budget and entertainment is built in, then there’s no guilt and self-doubt and you’re in control.</p>
<p>DadII, I remember another Asian poster, Laserbrother, who wanted to buy a fancy car to “scream” to the world about his accomplishments. It’s just not something I can relate to at all. I never have “I am one up” conversations with any friend, neighbors, or acquaintances of any race, creed, or class. In this family, we buy things that we either need or will really, really enjoy. We don’t give a hoot about whether it impresses anyone or not.</p>
<p>If you want that car, buy it. It seems to be eating away at you. Go for it.</p>
<p>But it always gets to me to see parents of kids on financial aid driving a fancy car and living in a nicer neighborhood than I do.</p>
<p>Oldfort, don’t let it get to you. When DadII drives by in his S430 & waves at you, just remember that he inflates the car tires with a manual bicycle pump to save a quarter. Or so he claims. He gives new meaning to the phrase “penny wise and pound foolish.”</p>
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<p>Sounds very self-righteous and racist.</p>
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<p>A little mean-spirited.</p>
<p>This thread is timely.</p>
<p><a href=“http://talk.collegeconfidential.com/parent-cafe/570541-anonymity-can-turn-nice-people-nasty.html[/url]”>http://talk.collegeconfidential.com/parent-cafe/570541-anonymity-can-turn-nice-people-nasty.html</a></p>
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<p>You shouldn’t be concerning yourself with anyone else’s financial situation. Why on earth would you “know” what some other family’s financial aid package was? Who would discuss such a private matter in real life with other people and share the particulars (beyond generalities such as “I was pleased with the FA at XYZ College”)?
The only people who need concern themselves with my finances are myself, my spouse and our financial advisors. It would be beyond tacky to ask someone else what their financial aid situation was, for me to offer any details of my own situation, or even to participate in such a conversation even if they brought it up.</p>
<p>Oh please Pizzagirl, when you know a school only offers aid due to financial needs, you know why those people could afford expensive cars and house and still qualify for financial aid. </p>
<p>I was just trying to be funny - I live in a nice neighborhood and drive cars I want to drive, and I pay for full fare for my kids to go to schools, both college and high school.</p>
<p>No, we don’t usually need to talk about what people have. In the suburb all we have to do is to know your address, what cars you have parked in your garage, and which country club you belong to.</p>
<p>Why are you paying attention, though? Why are you even making the mental calculations that so-and-so lives here, drives this, does that, and is sending his kids there? There’s a lot of mental freedom and peace of mind that comes from releasing that all, and not counting other people’s pennies.</p>
<p>Let it go, Pizzgirl, it was suppose to be funny when it was first posted, have some mental freedom and peace of mind, breath in and breath out.</p>
<p>In the suburb all we have to do is to know your address, what cars you have parked in your garage, and which country club you belong to.</p>
<p>but doesn’t the name of your suburban development denote your club?
that other info seems redundant.</p>
<p>No, emeraldkity - why would it? People can belong to country clubs that have nothing to do with their actual development / subdivision. Country clubs aren’t necessarily residential.</p>
<p>Ok I agree lighten up. ;)</p>
<p>I don’t even * know * of any country clubs in this area. What are they anyway, a place connected with a golf course and a gym? I go to the gym but I don’t golf, if I did there are lots of public courses.</p>
<p>My brother used to live in a gated community in northern Indiana, where the development included a country club, but I have no idea why a town with only 4 way stop signs would even think they * needed* a gate around their homes.
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<p>EK, there are some posh clubs on the Eastside. Sometimes local schools rent their facilities to have homecoming dances or proms, that’s how I know they exist.</p>
<p>I guess I forgot about places like Sahalee, cause even the old money people I know never mention them & again- no golf. ;)</p>
<p>My daughter had her junior prom at the Mt Baker club, that is private & we have used the pool at other neighborhoods where you have to get on a 20 year waiting list :rolleyes", but I don’t think of those things as country clubs.
A country club is where you caddy to save money for college, for Bill Murray and he gets drunk and makes you listen to his really bad jokes.</p>