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News about the Kid

September 15th, 2009 at 12:03 am

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!

9 Responses to “News about the Kid”

  1. creditcardfree Says:

    Congratulations on taking a stand! Keep up the good work.

  2. monkeymama Says:

    Wow! I think that is great - just wanted to say good for you!!!

  3. whitestripe Says:

    congratulations on standing your ground. if i did that to my parents i would have gotten a slap lol. (not an *actual* slap - but i would have been told where to go!)
    and if i had children that did that to me i probably would tell them to stop being such a brat!

  4. lizajane Says:

    Good for you! If he wants to improve appearances, he might work on how he appears to YOU, and try a little harder this semester.

  5. baselle Says:

    Good for you for standing firm. If being cool is a hobby, he has to make it his and on his dime.

  6. Ima saver Says:

    Good for you!

  7. miz pat Says:

    Wow - you did really good. Congrats.

  8. Jerry Says:

    Good job! That is hard to do, but I know you did the right thing and this leads to more responsibility. Now... who is covering the car insurance, or is he still eligible on your coverage?

  9. dividing the dime Says:

    Thanks to all for your encouragement. This would have been a totally different story had I not received such great 'savingadvice' advice!

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