How Much Will It Cost When Your Son Or Daughter Starts Driving?

It’s hard to imagine for most parents that their son or daughter will be ready to get their driver’s license someday.    In fact, I think this ritual is a little bit like the birthing process.   Nature in part prepares you for very little sleep when the baby is born by making it very difficult to sleep in that last trimester.    As much as your stomach will go through the spin cycle the first time your son or daughter leaves the driveway all by themselves, there is also an overwhelming sense of relief for you to remove the chauffeur cap that you have rightly earned the years preceding your son or daughter getting their driver’s license.    While most families prepare for the magical day when their children get their rite of passage to begin driving, they often don’t consider the extra costs that may hit their family budget.   How much will it cost when my child starts driving? Learners Permit- This ...

Read More →

How Much Does That Tooth Cost?

My son is now at the age when the baby teeth start falling out.  I forgot how exciting this event is for kids.  Every day he tells me that it is going to fall out today.  In anticipation, his grandmother has given him a small little box to be able to put the tooth under his pillow for the Tooth Fairy. This naturally causes us parents to wonder how much money we need to leave as the Tooth Fairy’s representative.   I received a quarter when I was a child, so I thought that a quarter would work.  My non-finance major wife informed me that due to inflation, it needed to be more like a dollar or two.  Some recent studies show that the national average is up to $3.  So that brings us back to what is an acceptable amount. The Tooth Fairy dates back to the early 1900s to symbolize a rite of passage for the child.  Money was not ...

Read More →