<p>Hey kids, I’m a grown up, and let me explain something about owning a small business…it costs a lot of money. Consider employees, insurance, equipment, leasing office space, and on and on. Don’t assume that because someone is a small business owner they are rolling in money.</p>
<p>Someone mentioned that income brackets are the same anywhere you lived…and that is definitely not true in real life. As far as taxes go, the government, and any kind of census data, yes a person making $200k in California is the same as a person making
$200k in, say, Mississippi or Oklahoma. However, cost of living is dramatically different, and therefore the family in Mississippi is able to afford many more luxury items and expenses in their life than the family in Silicon Valley. </p>
<p>Another thing to consider is that many people live wayyyyyy beyond their means. They take out second and third mortgages to pay for that fancy expensive college, are in credit card debt up to their necks so their kids can have $200 pair of jeans and louis vuitton bags, and lie awake at night worrying about how the heck they’re going to pay for everything. </p>
<p>Whatever your families can or can’t do for you to go to college, DON’T go into major debt to pay for it yourselves!!! An expensive private school may look good now, but in 10 years when you’re still paying $1000 a month (or more) to pay off those loans, you may regret it.</p>
<p>Advice from a middle aged parent!</p>