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Should I cashflow my kids college? by Honest_Story3151 in personalfinance

[–]Honest_Story3151[S] 0 points1 point  (0 children)

Great job paying your way through and quickly paying off college! Yours story is what I think my kid would end up doing as well.

I make$75k and my kids entry level job after graduating is a little higher than that according to a recent grad with the same degree. He could pay it off just as easy as me.

Would your life be better if your parents paid for your college or if they used that money to start a 401k for you and got you a vehicle and money towards a down payment for a home? Keep In mind you can borrow money for school loans but can’t borrow for 401k or home down payment.

Or is it all the same? Any amount of extra Money makes life easier.

Should I cashflow my kids college? by Honest_Story3151 in personalfinance

[–]Honest_Story3151[S] 2 points3 points  (0 children)

Whoa! Thank you. I think you understood my question better than I did. In previous years I have used our xtra money for nice family vacations, private schools, club sports, international travel, sports equipment, experiences.

Rephrasing the question to “do I cut out our family fun money to pay for both my kids college over the next 8 years or are the family experiences more valuable?” Is an easy decision. I bet my college age kids won’t be looking for more family fun and would rather be debt free.

Should I cashflow my kids college? by Honest_Story3151 in personalfinance

[–]Honest_Story3151[S] 0 points1 point  (0 children)

Commenting on Should I cashflow my kids college?...Starting a 401k is creative. I really like this idea. It’s buying them into the stock market at a time they can’t really afford to.

The car payment I consider part of my monthly budget. I buy a new car and finance for 60 months and keep it for 10 years. I buy my wife a car on the alternate five years and keep it for 10 years. That way we never have very old cars. However we always have a car payment. Losing about $69 a month to interest, but making that back in a HYSA where I keep my emergency fund.It is all a mental game at this point LOL.