Well, this has been an interesting summer.
Because the kid lost his scholarship, he waivered this fall semester about going back to the university he attended or remaining home with us and going to a community college to make up his credits and his GPA. (A decision made by him at the VERY last minute of registration. He failed every single class last semester.) Anyway, after a deep discussion of money, he's more mature about this then I expected he would be and despite my disappointment in all the wasted money, we are getting along pretty well. The bad news (besides the waste of money and the GPA) is that he's eating all my food and leaving all the lights on. The good news is community college is WAY more affordable then university.
Of course, his being home, means there's a transportation issue. His original plan for the summer was to work to earn some money to help purchase a replacement car for the car he totaled last September. He made some effort to look for employment, but not a grand effort as he was without transportation. Summer passed us by and no job.
He continued to think that I would purchase him another $3500 to $4500 car, that I would give in. We did go out to look at several used cars--I want a black one! he says or, Oooh, how about a Mitsubishi Gallant, he says, or How about an Acura Integra, he says. For a minute, I almost caved in, just like he thought I would. But Savingadvice friends, you'll be glad to know I didn't totally cave in.
He had $1000 in his savings account and I originally offered to add $1000 to whatever he saved from the 'summer employment'. (The $1000 in his account was there at the beginning of summer from previous income.) My spouse asked our mechanic if he knew of any used cars for sale and our mechanic happened to have a 1991 Honda 4 door hatchback Civic with a rebuilt engine for $1,400. We bought it. It's white and old and with a little rust, but I'm happy with it.
When it was in our driveway, we told the kid. He wasn't happy with it, because he's more concerned about appearance then anything, but I think he'll live. If he doesn't drive it, he can always walk. If he doesn't want to walk, he can try to catch a ride with someone or catch the bus if he can ever figure out our confusing bus routes. I feel fine about it all. I was finally making some progress in my finances and I just didn't FEEL like going backwards by $3500 or so. I realized I needed to take a stand for my finances because I'm the ONLY ONE WHO'S GOING TO TAKE A STAND. And I did it.
Thanks to all my savingadvice friends for your support!
News about the Kid
September 15th, 2009 at 12:03 am
September 15th, 2009 at 12:27 am 1252974451
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September 15th, 2009 at 03:52 am 1252986733
and if i had children that did that to me i probably would tell them to stop being such a brat!
September 15th, 2009 at 04:29 am 1252988943
September 15th, 2009 at 04:54 am 1252990479
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September 18th, 2009 at 01:47 pm 1253281649
Jerry
September 21st, 2009 at 11:47 pm 1253576878