Learning to Live Again…Life after paying for college!

As cliche’ and obnoxious as my title really is….

There’s a plausible reason why I chose “Learning to Live Again.”

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My younger son graduated from college in May of 2016.

I felt a remarkable sense of completion.

Sure.  That accomplishment was his… and only his.

We are so proud of both boys who followed our advice and pursued their degrees.

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This past August – when we didn’t have an enormously large (by our standards, anyway) payment to send to some school….

It was such a relief.

I felt like my husband and I could begin again.

Begin what?

Begin a new chapter!

or at least

Begin living a life not centered and focused on helping and facilitating the advancement of our sons’ lives.

I understand completely that every parent is in a unique financial situation.

So speaking from a totally personal point of view –

…my husband and I strongly believe that big vacations and new wardrobes and major home improvements…

Be put on bigtime hold so our 2 sons could graduate without a dollar of student loans.

It wasn’t about deprivation.

It was more a personal philosophy.

Our goal was to equip our boys with degrees without a ‘mortgage’ payment (sans the house).

And many young Millennials have just that. Thousands of dollars of debt with no car to drive or house to live in.

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While researching my book on Baby Boomers & their Millennial kids….

I discovered a lot about attitudes toward finances.

Again, let me be clear….I am fully aware that we are all operating in a different set of circumstances here.

No judgment.  Just my written thoughts.

Please hear me out on this topic.

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All of our graduating high schoolers have decisions which can and will determine the financial aspect of getting through college.

My sons knew that their decisions would determine if they graduated with or without debt.

Private versus Public.

Schools offering athletic/merit scholarships versus schools offering small financial packages.

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3 Common Scenarios

(1) I know students with extremely limited finances – who opt to attend a local junior college for 2 years to complete all basic prerequisites before applying to major universities to pursue their actual major.

(2) There are college freshmen who have parent-provided tax-advantaged college savings accounts to start their education…but when those monies run out…. the rest is on them. These kids work during the summers and on campus through work/study programs.

[This is how I supplemented my college funding.  I worked as a student typist before and after class…and worked in a 5 & Dime store in the summer and during Christmas break.]

(3) And I know parents who can well afford the tuition to any Ivy League school in America… but feel like college is their kids’ responsibility .

There are no wrong or right answers.

But here’s some food for thought.

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My 2017 New Year’s Resolutions are forcing me to examine 3 major areas of my life.

[And I bet most of America is with me on this!]

Finances.  Career.  Health.

The majority of my financial failures and successes were learned from my parents.

That’s a fact.

My parents didn’t sit me down at the yellow linoleum kitchen table to discuss money….

but I listened and learned without them even knowing.

Certainly not blaming them for my Money Mistakes and not applauding them for my winning Financial Feats either….

Here’s the take-a-way.

Our young Millennials are watching us – Boomers.

They are modeling our budgeting behavior.

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After putting on paper my written budget for January just yesterday…

I remembered the research for my book in the chapters on MONEY & DEBT.

The real negative lesson is NOT –

The hundreds of dollars of payments which easily drain a young wage-earner’s monthly income…

And it’s not the total amount of money owed….

It‘s the toxic attitude that debt is normal.

Debt becomes a familiar part of life when you begin adulthood with a pile of owing.

It’s the stress of starting out life below zero.

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We, Baby Boomers – have made plenty of frivolous financial foibles!

Guilty as charged as I write today!

Probably more guilty than any of you reading this post.

But 2017 is going to be different! Right?!

My Written Thoughts Blog

will be a blueprint for all Baby Boomers who want to read about making 2017 their best year EVER.

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We both know the definition of insanity.

Doing the same thing over and over again –

But expecting a different result.

Let’s stopped the insanity together…

Let’s change our mindsets, attitudes, & behavior this year.

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And you know my New Year’s motto….

THE BEST IS YET TO COME.

Once again, Happy New Year!!!!

Be well.  Talk soon.