theonlybull,
This was our thought into buying the kids a car. When they were teenagers they both had to work in dad's restaurant at least one week-end night a week. Nothing during the school week. They kept out $10 for themselves and everything else went intot he bank for college, and I mean everything, every time. If they worked a second night, which meant they worked both Friday and Saturday night, they got to keep $10 form Friday + half of Saturday's money. Teh rest went into the bank. Summer jobs, same thing $10 a week everything esle went into the bank. I can't remember the exact amount my daughter had but I know my son started college with $18,000 of his own money that he earned and saved. When they were teenagers we bought the car we paid the car insurance and we bought the gas. But they worked, and their money went in the bank for college. They never touched a cent until they were in college.
We paid the first semester, they paid the seecond. When they were out of money thne we paid for the rest of their education. We thought it was better for them to have money for college, their own money, and we would take care of their day to day living expenses when they were teenagers. They really appreciated the cost of their education when they ahd to take the money out of the bank and wrie checks, it was their mony. It is was much different than signing for a loan, that you paid back "some day". taking the money out of the bank, really did motivate the kids to do well in college, as they were paying for it.
This is just one way we did it, and it worked for us. Probably wouldn't work for everybody, our kids started working when they were 14 with a real job, and we started out with them giving us their money every time they worked and we put it in the bank. Same thing with the paychecks, they signed the back and we put it in the bank. You know what they say about starting them off young in the right direction. We never let them keep any extra only $10. There were never any disagreements over it, because that was just the way it was. It is all they knew, having started when they were young and impressionable. My husband having grown up really really poor, money wasn't ever taken for granted. It was respected. Believe me my kids had a great life, a fun life, they didn't miss out on anything by only having within their control $10 a week, of couse they could work a second night and have more, if that is what they wanted.
Not every family is able to provide a car and gas money, so it doesn't work for every situation. We decided to pay the expenses when they were teenagers so that when they went to college it would be less for us later on. I know the way we did it is outside the norm, most families probably have their kids buy their own car and pay the isurance, but then the kids don't ahve as much in the bank wehn it is time for college or technical school. Or if they never went for further education, well then, that was their mney to do with as they would choose. It was their money they earned it. We just helped them to save it, for themselves.