Book #1. Check.

I finished READING my first book of the year today! yay! I read Debt Free U: How I Paid For An Outstanding College Education Without Loans, Scholarships, Or Mooching Off My Parents. I gained alot of insight and although some topics would be more applicable if the boys were in high school, alot of topics made me think about how I teach them to get ready for college.
Here are a few of my nuggets I don't want to forget!
*Student loans are not an option
The statistics provided were right on with what Brooks and I are personally dealing with financially. It also talked about the substantial effects that loans have on a college graduate and with the trends of debt growing, I am strongly against my children ever having student loans. I don't think it is my responsibility to "take care" of college expenses, but teach my kids about how "real life" works so that they are prepared.
*Teach/Encourage
There were several topics that made me think, "I gotta teach them that!" First of all, I want to encourage the boys to earn and save their own money to buy things they'd like to have. I want them to understand that credit cards are not the answer.I want to teach them how to budget their money they do have and how to spend their money wisely (couponing, price comparing etc.) I want to provide opportunites for them to be responsible and show responsibility and learn that there are rewards and consequences for their actions. I want to teach them time management. (Oh to know how much TIME we had as college students!!) I want to teach them how to communicate effectively.
*Mommy-Match Account
I want to encourage savings through MMA. Basically, if they put $50 in a savings account, I'll match it with $50. One tip the book gave was to open a Roth IRA when the kids are Freshmen.Using the MMA system, you'd contribute throughout college. This can either serve to jump start their retirement fund, or if they wait 1 more year, it can be cashed out with no penalty after 5 years and would be a nice amount for a down-payment on a first home.I LOVE this idea!
I was kinda against my kids working during college (so they could focus on studies) but in reality a 10-15 hour a week job is manageable and would provide a couple hundred dollars to save and help with living expenses. Of course, I'll have to see what kind of "student" each child is when that time comes. (I'm banking on them all being brilliant :)
*College Real Estate
Brooks has always wanted to get a place in Starkville, but hey we aren't financially able at this point. BUT after reading about this, we decided it is a goal we will pursue once we are debt free. Having real estate in Starkville could provide A) a place for our kids to live while going to college and/or B) provide a nice source of cash flow when we retire.

There was alot more math and figures than I generally enjoy reading about, but the bottom line was that compounding interest either works against you or for you and we've already paid enough "stupid tax."