So, there is a looming irony in our household - namely, that while we are on this debt free journey, my teens will be taking new student loans to continue their education. While this decision clearly goes against our family goals, there are reasons why it is the right one for my teens.
I mentioned that both of my teens are college bound and will be living on campus in the Fall. Both have been working this past summer, with the oldest holding down two jobs. My teens were fortunate enough to find summer employment at a place that they can return to during the holidays and even work part time while in school. Even more important though, is that this job offers a 401K plan and I have helped both teens enroll at 10%