Sending your kids to College is not an easy thing to do
October 16th, 2011
Budgeting is the most basic and the most effective tool for managing your money. To budget for your child’s college, you need to know where you are and where you are going, it is always important to get advice from companies like SoFi, specially if you’ve never had a budget before. You need to know what you have and what you need. You need to know how to put away money for college costs for a specific year, a few years, a year and a half. You need to be able to budget ahead of time and plan your finances in a way that is realistic. You need to have a plan. I’m not sure why parents give up. I’m not sure why they give up. Some of the parents I work with feel like they are letting their child down. They don’t want to do this, but the parents don’t feel like they can do this themselves. This is their family, and they have to think this way.
The most frustrating thing about budgeting for your child’s college is how often parents say to me, “I’m going to try, but I’m not sure I can do it.” We’re not even really sure if it will work or not. You’re not going to get a good answer. You’re not going to get anything else out of it other than, “Look, your parents are going to make you do it. I can’t make you do it. Go work at McDonald’s, do anything you want to do. Just don’t give them any trouble.”
This book is not meant to be a “how-to” book. It is meant to be an attempt to understand what kind of trouble your parents are willing to face to get your daughter through college. Do they even know how to do it? If they do, they’re wrong.