So, the kids are now 18 and it’s time for their college. The big question is should you pay for that college degree or should you let the kid pay his way through college! Well, both the school of thoughts exist in this matter.
Many parents are of the opinion that once their child qualifies for the college, he’s an adult and is not their their responsibility anymore. On the other hand are the parents who take a huge loan to put their children through college.
Which is the right way? Going bankrupt or washing your hands off the matter? There is no right way to it as either of the ways is extreme. Read on to know both sides of the argument and how you can keep a balance between the two:
Not Contributing Towards Degree
You may not have enough money or may feel that since you have done enough for the kid, he should put himself through college. This kind of attitude is not going to help you or the kid. You need not contribute but, at the very least, you can stand by him and be actively involved in all the financial decisions that he makes. After all, you have more experience in financial matters than him!
When the child turns 18, it is essential for parents to teach them about debts and access to free credit reports. Explain them about the pros and cons of loans and advise them as to how much loan is reasonable.
Contributing Towards Degree
On the other hand, you can contribute towards the kid’s degree but within reasonable limits, without going bankrupt. Ensure that you are not dipping into your home equity or retirement funds. Such things will get you into trouble and delay your retirement.
There are people who couldn’t get a degree and will go to any lengths to ensure that the kid gets it. When you do such a thing, there will be more expectations and demands. Ask yourself, are you ready and willing to fulfill those expectations and do you have the money for it?
As experts advise, you must research all the options that you have. Numerous calculators are available on the net, which can help you know the amount of loan and the repayment amount. Another thing that you can do is to start saving for the college. It will be easier than taking a loan or throwing the kid out into the world, leaving him to fend for himself.
A degree is essential is you want the kid to get a good job. Without it, chances are that he will remain unemployed. So, decide carefully and be there for the kid.
Save for some people is not as easy as turning the palm of the hand. Instead of saving part of the income or windfall, you may find yourself shopping center.
Jean Chatzky financial planners have a powerful stance on the wasteful nature of conquering yourself. The trick, make your financial system is automated!
In his book, titled “Make Money, Not Debt”, financial planners favorite talk show queen Oprah Winfrey is, suggest you keep the money from the hand by making savings automatic.
The meaning of this is to give an automatic savings bank where you open an account and permit the power to move some money from salary account could possibly spend.
Such systems are not yet familiar to most of the people of Indonesia, but Chatzky also suggests a number of other automated steps you can do.
First, the direct deposit. These suggestions are not hard to do given that most companies in Indonesia today penyetorkan salary automatically into a bank account of choice.
Second, open the automatic investment plan. In this case to consider is when you stop saving and start investing so short-term needs are met. So have an emergency fund of three to six months of expenses, you can stop funneling money into regular savings and start putting it into stocks or mutual funds.
Third, Automate your debt repayments. Just as if you could choose to channel money directly into savings, you can also choose to pay the mortgage debt by the bank automatically. This system can suppress the late payments that can sabotage a credit score.
Fourth, perform banking transactions online. Currently a number of banks already offer transactions online. With online transactions, you do not have to queue for hours to pay bills, check balances or make transfers.
An industry analyst said that Facebook will eventually find its own code from the appropriate operating system to optimize support for mobile versions of these popular sites.
According to ABI senior researcher, Aapo Markkanen, the growing importance of mobile for Facebook presents a good opportunity and a serious strategic challenge to Facebook.
Markkanen said Facebook needs to create its own operating system that are suitable and in accordance with the wishes and the initial intention of Facebook, which connects all people in the world.
“On the one hand, the phone is enabling the world’s leading social networks to engage with millions of new consumers, but on the other hand its ability to make money from mobile users is still untested,” said Markkanen to the TG Daily via email, on Saturday (24 / 9 / 2011).
“Another big problem for Facebook is to miss the web as a platform, on the phone that there is only another application. To strengthen its position in the short term we hope that Facebook is more aggressive use of HTML 5, but in the long run Facebook should really make its own mobile operating system, “he added.
Markkanen also noted that the correlation between social networks and mobile phones can also be viewed from a variety of new efforts initiated by Google and Apple. For example, Google’s attempt to create its own social networking with Google’s name +.
Google seems deliberately designed it to benefit from deep integration with the Android. Similarly, Apple has teamed up with the microblogging service Twitter to build up to the IOS 5.
“An interesting aspect of the partnership forged Apple and Twitter is how to provide iPhone users with a social identity is verified for web sites and applications. It gives developers plenty of room to innovate in areas such as authentication, personalization and advertising. This is a rare thing,” knot And Shey, ABI officials.