Alliance Bernstein is an investment company. On their website some interesting fact can be gleaned about how Americans save or don't for their kids education.
95% of parents intend to pay some or all of their kid's college expenses.
94% believe investing in their kid's education is best investment in their kid's future.
65% would feel guilty about NOT helping out their kids.
41% intend to cover ALL of their kids expenses.
My father and mother paid zero/zip/nada of my college expenses and I got through. I didn't get as good a grades as I might have, but I did alright.
So...even parents have the best intentions...how do they/parents spend/save money?
58% of parents spend MORE money on dining out or ordering take-out than they save for their kids.
49% of parents spend more money on vacations than saving for education expenses.
38% spend more for consumer electronics.
31% give kids more allowance than save for their future.
Whoa! It seems to me that parents, well, at least those who intend to pay for their kids education, need to go back to school and take Savings 101.
What do you think?
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