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Personal Finances / Buying or Selling a Home
|Subject: Re: Mortgage: How much to help a kid?||Date: 7/3/2006 1:41 PM|
|Author: JEDIKNIGHT||Number: 96891 of 128427|
My parents are from a culture that when it comes to kids, IF kids are doing the right things, they will offer support when it comes to home and college. Meaning that if you're out with some boyfriend and working at the movie theater, we'll send you a Christmas card. But if you excel academically and live within the value systems our family believes in, tuition or home assistance is there. \
The kids will throw in $5000. Parents will kick in $20,000...to arrive at 5% down. They know out of upbringing that there will NEVER be money for a new dress, a trip to Mexico, or anything of the sort.
The mortgage payment will actually force them to live even more responsibly, and that'll be a good lesson and character builder we think.
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