Seriously. My family is well off. My parents still made sure I understood the value of money.
This is not worth an extra $38k a year. You should learn to make your own fun wherever you end up. It's not fair to expect your parents to amok such a huge sacrifice so that you can have "fun."Unfortunately, I can't seem to understand the financial implications! I really wish I could go to College 1 (mainly because it's just a lot more FUN than college 2), but then a small voice keeps telling me that it is probably not worth the money.
Did you live at home during college?Why would you even ask this question? It's such an easy decision. Only an idiot would go to college 1 assuming it's not even a high ranked school over college 2.
My family's income is about 205K per year and my parents are willing to pay for my UG costs, and I'm sure that med school will not be pushed upon me either, unless I really start earning and they realize that I can also pitch in.
Recently, I have been pondering over two colleges that vary substantially in financial costs. College 1 costs $50,000 (includes tuition, room and board, and travel charges) per year while college 2 costs about $12,000 (only tuition-I do not need to take a room or travel here, as I will be commuting) per year.
My parents have been repeatedly telling me that College 1 is really expensive and my dad says it will effect the family. (This is because College 1 will cost about $4000 per month) They can pay for it, but it will require my mom's entire salary to be devoted to my UG education. So they're asking me why it's really worth it, as College 1 is not a very high-ranked school...
Unfortunately, I can't seem to understand the financial implications! I really wish I could go to College 1 (mainly because it's just a lot more FUN than college 2), but then a small voice keeps telling me that it is probably not worth the money.
Could someone please elaborate on the financial implications? Or what they think about this situation?? As someone who has never dealt with money before, I don't understand how the "taxing" system works or why it's important to save money. I know my family is not millionaire-rich, but I feel like I can afford anything because I have never experienced what it's like to "not" have a continuous supply of income.