Saving for college is wise, but what we really need is wisdom for the spending.
How can you apply this concept?
I am amazed at the number of people who save for years to send their kids to college. Especially when they do this for no other reason than, “That’s just what parents are supposed to do.” If your child has no idea what he or she wants to do in life, then paying for a 4-year party degree, five miles from home, and with no accountability is not a wise investment. Would it not be wiser to help your child with their higher education after they prove themselves responsible and motivated enough to put themselves through a couple of years of community college?
Working their way through a local school will help give your child the strength of character to survive a distant school that might better fit their major. It will also help you to be assured that your investment is not wasted.
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