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My parents did give me their old car when I turned 16. And I got a "newer" used car when I graduated high school. However, I was expected to pay my insurance and gas. (Basically, I had a job from the moment I was allowed to work.) At an early age, I learned that there are some things you must work for in life if you really want them.
I am in favor of saving money for your child to attend college. This means tution and room/board. I received scholarships for my education and my parent's paid the rest. Our deal was, if I lost any scholarship, I had to pay that amount of money for the semester. Also, they would pay for only 4 years of college. Any additional years, I would have to pay myself. This kept me motivated to take as many classes as possible and to get the best grades possible so I wouldn't be footing any huge bill. I lived oncampus for one year and decided I wanted to move into an apartment that was nearby. My parents paid for one year, and told me if I wanted to continue to live in the apartment, I would have to pay my own rent. So that's what I did. I got a job as a waitress, starting making pretty good money, and set myself financially independent from my parents. In 2002, I graduated from college (in 4 years), bought myself a brand new car, and got a well paying job in my field.
What ticks me off the most are parents that pay for their children's SHOPPING HABITS! No offense to people whose parents do so, but really, it's ridiculous. If mommy and daddy paid my credit card bill monthy, I would be buying all the designer brands too. There is a certain age where parents must stop paying for your clothing, etc. For instance, my friend is 27 and her parents just stopped paying for her weekly shopping sprees. (She got married, so they finally cut the apron strings.) I think that is insane. Her and her husband don't make a lot of money, but she's still shopping her usually habits. They're going to be in debt forever unless she realizes her ways. And that's what I think parents need to teach their children. Money doesn't grow on trees and you have to manage it wisely. Yes, it's nice to be spoiled sometimes, but as you approach adulthood, you SHOULD want to do things on your own, without the help of your parents.
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