Financing plan too unrealistic?

2022-05-24 19:52:36

Well, wait a moment, there was no talk of giving money easily. First, an appropriate amount should be provided as pocket money to get to know the value of money. I was born in '82, so I should be the same generation.

You are 80s, I am 70s generation 8-) kidding aside. I am quoting what the other user said. There was nothing about getting to know money but rather, if a purchase is more expensive, it comes from what was saved. Car and driver's license are paid for and at 18, still a five-digit amount... Yes, that will definitely teach the child about money...

2022-05-24 22:24:44

Aha... even if you forget purchase incidental costs for the land, all ancillary construction costs like earthworks, the patterning, outdoor facilities, garage, and kitchen, it's still hard to reach such a sum. (Unless you build a palace like Rick, then I can easily imagine 300k in additional costs ;) )

That depends entirely on the time horizon, I would say. When we started planning at the beginning of 2019 and put some initial price estimates on paper (not offers), we were also about 300k below today's figures. That is – as we now know fairly precisely – 40% due to ignorance about the actual price level at the start of the project, 25% due to “quality upgrades,” and 35% due to real price increases since then. So I don't think that's overstated at all. Oh yes, a garage costing 32k is not even included in that delta, otherwise it would be well over 300k. Only because we have been scrupulously saving for years has it (so far) not thrown us off track.

2022-05-24 23:35:58

I don't share your attitude in the slightest. Just because I didn't have something, does that mean my child shouldn't have it either?! I had a good childhood even without luxury. I was never in a hotel as a child. We never flew and still had great times with my grandparents' caravan. Nevertheless, I would have liked to see more of the world, but unfortunately it wasn't financially feasible. My child should definitely have those opportunities, and I am happy if I can contribute to that. Of course, I am still grateful to my parents for everything, you don't need a lot of money for that, but categorically saying I definitely won't give my child a six-figure sum strikes me as a bit sad for the child.

I have seen half the world after finishing high school… it didn't cost my parents anything and was called Work and Travel, it was a great experience. Before university, I spent a few months in South America with money I earned myself because the Spanish course there was cheaper than in Spain, and in my dual studies, there was another stay abroad in Brazil… that works too. But everyone to their own taste.

2022-05-25 08:12:56

I also believe that the child needs to learn the value of money. If you now give them a high five-figure amount at 18 and have financed everything beforehand, it won't work. I have been working since I was 14 years old. Delivered newspapers, operated cleaning machines at Real, worked as security at the Goslar old town festival in 2000 or at concerts. If the child wants something expensive, then they should also do something for it. Simply giving money is not education, but convenience. That is my humble opinion. But as I was born in 1978, I am probably a different generation.

I disagree with you. You can support a child financially and still teach them that money has value. We also save for our daughter with two ETFs and have invested a bit of money as well. I think it is important and right that our child has a certain basic stock for later. What she then makes of it is her business.

2022-05-25 08:17:18

I disagree with you. You can financially support a child and still teach them that money is valuable. We also invest in two ETFs for our daughter and have put aside some other money as well. I think it is important and right that our child has a certain financial foundation for the future. What she then makes of it is her own business.

Doesn't anyone read the user's thread I'm referring to? :p It clearly says:

1. If something becomes more expensive, it is paid from the saved money. So he gets all expensive things financed by his parents.
2. Driver's license and car are paid for him.
3. He receives a five-figure amount as a gift on his 18th birthday.

Where is the financial education supposed to take place?

2022-05-25 08:18:08

When we started planning at the beginning of 2019 and put down some initial price estimates (no quotes)

Yes, wonderful. Some estimates from 3 years ago... and then compare them with real prices in 2022... and then say/claim price increases of over €300k... :D What did you plan for the next 3 years, creating floor plans. :D (ok, I know, the house construction is supposed to start 10/2022... I still couldn't resist...)

Financing plan too unrealistic?

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