I knew of someone who did a similar thing. When his kids went to college, he said he would cover half and they would have to take loans for the rest. They certainly worked hard and took it seriously as they themselves were financially invested in their education. After they graduated, he gave them the other half as a lump sum gift. “I always intended to pay for their education. I just wanted them to think they had skin in the game too.”
I’m the program manager for a transitional living facility (basically a longer term shelter) and I do this with the tenants. They are required to pay “rent” but our funding source doesn’t care what we do with that money. So I put it into saving accounts for them.
Edit: thank you SO much for all of the awards and kind words. I had no idea this comment would gain so much attention. Bless each and every one of you!!
After college I moved home, because that’s what Asians do. Lived happily at home for 8 years. Paid my parents $1k a month in rent. Got home cooked meals and all the benefits of living at home. When I was getting ready to move out because I was getting married, they gave me every single penny back so I could start our lives together. It helped pay for my down payment :). My parents rock!!
shoppingfortruth on March 21st, 2021 at 15:43 UTC »
I knew of someone who did a similar thing. When his kids went to college, he said he would cover half and they would have to take loans for the rest. They certainly worked hard and took it seriously as they themselves were financially invested in their education. After they graduated, he gave them the other half as a lump sum gift. “I always intended to pay for their education. I just wanted them to think they had skin in the game too.”
ckone1230 on March 21st, 2021 at 16:22 UTC »
I’m the program manager for a transitional living facility (basically a longer term shelter) and I do this with the tenants. They are required to pay “rent” but our funding source doesn’t care what we do with that money. So I put it into saving accounts for them.
Edit: thank you SO much for all of the awards and kind words. I had no idea this comment would gain so much attention. Bless each and every one of you!!
SillyGuy on March 21st, 2021 at 19:24 UTC »
After college I moved home, because that’s what Asians do. Lived happily at home for 8 years. Paid my parents $1k a month in rent. Got home cooked meals and all the benefits of living at home. When I was getting ready to move out because I was getting married, they gave me every single penny back so I could start our lives together. It helped pay for my down payment :). My parents rock!!