Paying for College

Young People & Money Matters

Over the years, I've posted now and then about how young people, especially high schoolers and college students, can take control of their finances. It seems as though every day there is some kind of story, either in the newspaper or on TV, about the ever-rising cost of living and skyrocketing college costs. If you're over 50, you can certainly vouch for the fact that life is much harder to manage these days than it was a decade or more in the past. So, as parents, what should we be teaching our children about money?

I always chuckle when I think about what the mother of a good friend of mine used to say when we were in high school. My buddy and I were sitting around his house one lazy summer day trying to think of something to do, when suddenly we remembered that the latest "great" movie was showing downtown. Realizing that we had enough money to get into the movie but not enough gas in my buddy's car to get there, my buddy asked his mother for the needed fuel funds. "Oh, sure," she said politely, "I'll just go out in the backyard and pull some greenbacks off the money tree!" Needless to say, we got her point and altered our plans accordingly.

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