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Posted
Apr 03 2008, 06:07 AM
by
Karen Datko
This post comes from Philip Brewer at partner blog Wise Bread. Key decisions you make -- especially when you're young, but also later -- have implications that ripple through the rest of your life. People treat these early decisions -- such as whether to go to college and what degree to get -- as if they were unchangeable. They put them in the back of their mind and look to the future. It's true that what's past is past, but there are good reasons to keep these decisions clearly in mind when you make future decisions. It's never too late to design your life. Read More...
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Posted
Jan 11 2008, 03:41 PM
by
Karen Datko
Twentysomething Meg at AllFinancialMatters has some advice for other people of her generation: Having a job you're passionate about is highly overrated. Despite what you've been told since grade school, "not many people are qualified or talented enough to fulfill their 'passion' as a video-game tester, a fashion model, an athlete, a musician, a writer or an Internet mogul," she writes. In fact, she says, believing otherwise "can promote impatience, entitlement mentality, poor work ethic, chronic dissatisfaction, frustration and even depression." What's important, Meg says, is balance.
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Posted
Dec 10 2007, 02:41 PM
by
Karen Datko
Mighty Bargain Hunter writes about a family he knows with lots of kids, "somewhere between 'The Brady Bunch' and 'Cheaper by the Dozen.'" How will the parents pay for their children's higher education? They won't. Once the kids reach 18, they're on their own, and they've been told, so they won't be surprised.
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Posted
Dec 07 2007, 06:40 AM
by
Karen Datko
Rating:
This post comes from Trent Hamm at partner blog The Simple Dollar. Over my son’s life, he’s received numerous gifts from me and my wife, his grandparents, and his aunts and uncles. We have many toys he doesn't regularly play with, so we’ve given a few away and have some in storage so we can rotate them monthly, giving him the enjoyment of having “new” toys to play with. His second birthday is approaching, and we’ve been thinking about what sorts of gifts are appropriate for him. What would he enjoy at this age? The surprising answer is that almost everything he indicates an interest in is very inexpensive.
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Posted
Nov 07 2007, 10:10 AM
by
Karen Datko
Why apply for only one scholarship when you can apply for 60? Ramit Sethi of I Will Teach You To Be Rich offers a primer for finding and getting lots of college scholarships . Many high school students don't make the effort, so they're out there for the taking . Apply for every relevant scholarship identified by career centers at your high school and others, in scholarship books at the library, and by family members whose employers sponsor free money for school. Write essays with a message that goes beyond "pick me because I'm smart" (after you write several, cutting and pasting will be breeze), prep your references so they're ready to emphasize your strong points, and sit back and wait for the interview offers to roll in. Ramit, a recent Stanford graduate, pursued scholarships with his usual entrepreneurial gusto: "When I was in high school, I ended up applying to about 60 scholarships -- all from my career center -- and got a bunch of money for school."
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Posted
Nov 05 2007, 08:20 AM
by
Karen Datko
Pardon us while we get a broom. Our hair literally fell out when we read Stacking Pennies ' post about co-signing a family member's loans . She agreed to co-sign student loans for her sister (whose own credit had been damaged by past financial choices) and unwisely allowed the sister to sign Pennies' name on the loan documents. Thus, it was a total surprise when Pennies learned she is obligated to pay off $23,000 in loans if her sister does not make good on the debt. This is a touching story about a sister's desire to help and a wake-up call for anyone considering the same decision . You can go only so far to save other people from their own mistakes. Pennies says she regrets co-signing the loans. "But it is family, and it is money for education, and it is hard for me to turn my back on that," she writes. We can only hope this works out for the best.
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Posted
Nov 05 2007, 06:40 AM
by
Karen Datko
This likely is a dicey question right now in a lot of households. Do parents get to pick which colleges their child applies to, particularly if Mom and Dad will be paying the way? Grad Money Matters examines this question in a thought-provoking post that focuses on a co-worker's dilemma . Her daughter wants a fine-arts degree from a big party school. Mom is worried that her daughter won't end up with a lucrative career . They've reached a compromise: The daughter will study computer animation at the college of her choice, as long as it covers half the tab with financial aid. GMM agrees with this solution: "I believe that if the parents are paying for the education, they have every right to set some ground rules."
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