Ever since your children were born you’ve been doing an impressive job holding the cash flow together. But does it feel like sometimes that you are bringing in money with a tablespoon and it is going out with a shovel? It can be so difficult to meet regular living expenses. Then throw in your mortgage, retirement goals, extra-curricular activity expenses such as club teams, cell phones, holidays, the occasional vacation and whatever you can do to provide yourself a little entertainment. Perhaps you even try to put some money into college savings. But now college tuition bills are on the horizon and that is going to throw off the balance in a big way. The shovel is about to be exchanged for a front-end loader!!!
I often get this kind of email from parents, “Hi Kristen. I know you will be meeting with my daughter (or son) soon and I wanted you to know that finances are a big concern of ours, as her parents. We haven’t told her that we can’t afford a lot for college, so we hope you will subtly work it into the advice you present. Thank you.”