We're setting aside aside enough in RESPs to get the full 20 per cent government matching, which I'm estimating will be enough to pay the full freight for a local degree, and about half of an out-of-province degree. We plan on having the kids put up some of their own money up front, so they have skin the game (probably 10%), and pay back a portion to us (probably 40%), which we'll set aside for a downpayment for them.
That's pretty much it.
Like my own parents did, I will expect them to work if they are not in school, and to contribute to rent and bills. They can share the second car as long as they contribute for gas and insurance. Spending money will have to come from part-time jobs.
I have to say I'm surprised by how indulgent some of my co-workers are with their teen and young adult children. I have a co-worker who has three kids aged 18-22 and none of them have worked a day in their lives - he pays for everything. He was recently asking about a decent bicycle to buy, and how much it cost. I came up with a price, and then he quadrupled it because he'd have to buy one for each of his kids too. And he's not a huge earner or anything either.
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Originally Posted by fotze
If this day gets you riled up, you obviously aren't numb to the disappointment yet to be a real fan.
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