Why I am not driving a Lexus any time soon
So the good news first, we have about $51,000.00 saved for College Tuition - which considering the doldrums of the market is not shabby. The bad news is that I have to split that amount five kids - four of whom will be going through College throughout the next seven years.
2012 - 2013 One Child - A
2013 - 2014 Two Children - A and H.
2014 - 2015 Three Children - A, H and E
2015 - 2016 Four Children A, H, E and M (This is the year my my wallet catches fire.)
2016 - 2017 Three Children H, E and M (Ready or not A is off the list!)
2017 - 2018 Two Children E and M
2018 - 2019 One Child M
For the past seven or so years I have been putting away about $100.00 per child each month - the equivalent of a healthy car payment and I am in the all-too common position to know that while I can help pay for things - I am not in a position to promise to pay every expense over the next seven years.
Yes, the little cherubs will need to find employment.
Theoretically I have enough saved to to pay for three semesters of tuition for A without needing to reach into my pocket. That is misleading though. It is like having enough to pay for the fare for a cheap airlines and then watching all the baggage, 9/11 Security, Taxes and airport fees suddenly materialize. Then they want $4.00 for a can of soda during the flight.
Tuition, Fees, Housing and Meal Plan at VBU (Very Big University) is roughly $26,600.00 for business majors. This does not include the captive financial molestation that occurs at the Book Store at the beginning of each semester. Currently we have about $12,000.00 saved for A's college. (Strangely for non-business majors the cost is $22,000.00 so I have to ask what is the extra $4,600.00 purchasing?)
So the bottom line is start saving early!
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