My son is filling out applications for financial aid for next year, so he was asking me some questions tonight. One of the questions was how much I have saved. It's pretty pathetic when the 46-year-old mom has to tell the 17-year-old son she has $100 in her savings account! Geez, my son has more money in his savings than I have in mine (not much, but STILL)!! I don't think he believed me at first. I can hardly believe it myself, actually ... it's such a depressing feeling.
Pathetic
December 4th, 2007 at 05:00 am
December 4th, 2007 at 05:06 am 1196744795
December 4th, 2007 at 11:22 am 1196767356
December 4th, 2007 at 01:43 pm 1196775801
December 4th, 2007 at 02:32 pm 1196778751
December 4th, 2007 at 03:26 pm 1196781984
My point in this long ramble: not having a lot in savings will be FAB for your son in terms of getting some good financial aid!
Plus, the $100 do have is more than some people, and a great start! Welcome to the boards!
December 4th, 2007 at 03:55 pm 1196783741
All the money in the world won't help if you plan on spending it all.
Conversely, if you have the desire for financial freedom, then it's just a matter of time before you have a nest eggs that is far beyond what you have now.
However, I also have a teenage son, and for their sake, I hope that they all learn the importance of financial responsibility sooner rather than later.