Quote:
Originally Posted by Table 5
Leeching of the parents for as long and hard as possible is a great way to save money, especially during college. For me I didn't have any money so it was a pretty easy decision anyway, ha. Sure I lived at home, and had to borrow my parents car if I wanted to go anywhere, but I saved a ton of money to the point where I was cash positive by the time I came out of school. Plus at that age, you don't feel like a loser about it (compared to the people who have to back in with their parents after they finish college since they can't find a job).
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I am hoping (but pretty confident) I'll be in the same position.
I have my car paid off finally (an 06 Cobalt), and I live with my parents with a good chunk of money in my RRSP. Luckily my parents were smart and saved up for me to go to school so my tuition is paid and I just pay books.
Coming out of school I'll look to be up a car, and $35,000+ in my bank account.
That's if everything goes to plan and I didn't go to Europe. As I am going to Europe/Asia in the coming years, shave $8000 off. Still, I'll be rolling in the dough.
Personal question but, is it a bad idea to put all my money into my RRSP (up to the limit at least) until I have saved $20,000, then take it out to buy a house (tax free apparently). Or should I save up in a different account for a house?