It’s no surprise that with the rising costs of college tuition, parents are stepping to help pay for some or all of their child’s education. While that’s a grand gesture, it doesn’t come with caveats. With college costing tens of thousands of dollars, those who aren’t as financially sound may soon find themselves giving up their normal standard of living in order to help provide a better future for their families.
In fact, some of these parents are delaying retirement for the sake of children. Sounds great, but if you’re working beyond the usual retirement age of 65, that’s no laughing matter. That’s also assuming that you’re in good health and can work for that long.
Even if you aren’t working for that long, families are still feeling the pinch. In fact, Coupon Dash conducted a survey asking 1000 families on what types of sacrifices parents have made in order to help pay for their children’s college education.
If you’re the parent of a teenager, would you give up these 3 things to pay for college?
It’s not surprising that people would cut back on vacations as this is probably seems the most frivolous to a family’s budget. If you add it all up, a vacation for a family of four could easily add up to more than a thousand dollars, even more so of you’re traveling out of the country (or to expensive destinations like Disney World). All that money could easily go towards books or even towards your child’s tuition.
More than half of the families survey said that they are willing to give up eating out in order to pay for the children’s college. If you’re an avid foodie, this may be hard to take in, especially if you like to dine out often.
For many families, they like to dine out weekly as a treat or even as an after church activity. If that’s taken away, maybe they have to plan more meals, take more time to go to the grocery store or even just plain learn how to cook.
For picky eaters, this can get complicated. And for those who like meal delivery options, families may not even be able to afford those because the cost per meal is almost as much as going out to a restaurant.
If you’re prepared to sacrifice eating out for your children, then it might be a good idea to take a few cooking classes to learn how to cook restaurant-style meals so you don’t totally feel like you’re depriving yourself.
Almost half the families surveyed revealed that they are willing to give up shopping for new clothes and gadgets just to pay for their child’s education. Considering that so many of us probably have a lot of clothes in our closets already, it might not be much of a sacrifice. However, for those of us who like to visit the mall as a hobby, you might have to resort to just window shopping for a while.
These are just four of the six thing that families are willing to give up so they can put their children through college. It may be hard, but for many it might be worth the sacrifices. Will you give giving anything up just to see your child graduate college and move onto a successful career?
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