There's a Cost for Living

You have to pay for water…

Before each of my children left for college, I held the father-child discussion about how college prepares them for their future job. The discussion centered around selecting a field of study whereby they could support themselves after graduation. My daughter said it best:" Well, I guess I cannot get a degree in basket weaving."  This comment came on the heels of establishing a monthly budget representing her future living expenses, a process in which our guidance made her feel supported and prepared for the future.

That day, we established a budget upon her graduating (do not blink; this day comes all to quickly). Our conversation started by discussing the obvious cost of renting an apartment. The conversation quickly turned to the not-so-obvious living costs…water, electricity, and natural gas. Whitney exclaimed, "You have to pay for water?" Next came electricity, and I said, "That is why I always asked you kids to close the refrigerator door." And finally, the cost of natural gas for heating your home…she really hates cold weather.

Next, we discussed routine car maintenance. She understood the recurring costs of filling up her gas tank. In the column of the not-so-obvious living costs was a "rainy day fund," which would cover unplanned expenses such as a flat tire, oil change, etc. Up to this time, Dad and Mom's bank account took care of these types of costs.

The discussion moved on to Christmas and her spring birthday. I asked, "You enjoy receiving presents for Christmas, don't you?" Her response: "I sure do!" I said, "Well then, to receive a gift, you have to be ready to give a gift." She would need to set up a monthly savings account whereby she could set aside funds to cover these types of expenses as they arose.

Let’s total up the Cost of Living…

The engineer in me required my daughter to develop an Excel spreadsheet such that we could sum all costs. We concluded our discussion, and we 'added up' the costs, which totaled thousands of dollars. She was (and will always be) a very practical child. She quickly grasped the issue at hand and knew what needed to happen. I return to our opening conversation regarding choosing a major. Basket weaving was out, and Graphic Design was in, a choice that reassured us of her practical approach to her future.

She has done well in her selected field, but she has also excelled in her 'job' as a mom, demonstrating that one can successfully balance personal and family responsibilities. This is a crucial lesson for all students as they prepare to leave for college.