Thursday, April 21, 2016
Cost-a Costa Rica Savings Plan
Remember last week when I was fretting and indecisive about the young one looking into a job this summer? Well, we sort of decided based on the next school trip she wants to go on, that she needs to earn the bulk of it. The choir program is going to Costa Rica next March over spring break. This trip is about 15% less than Spain, and she underspent what she had saved for spending money for that trip, so already has a start towards savings. She will work any fundraisers the school offers, tuck away any birthday, Christmas, and holiday money, and nab any babysitting gig she can get. She's also looking for the summer opportunities.
Some may think we are over indulging her, and I may partially agree. However, this is a kid that is fine wearing hand me down clothes, is very much not about having the latest teen trend to throw money away on, and in general is much more into experiences than stuff. She has several friends going, and while some come from affluent families, most seem to be in the same modest income range we are, with seemingly the same priority of giving kids experiences rather than more stuff, so she'll have lots of company on her fundraiser sessions.
This next year is the last year the beloved choir program department head will be directing, and she being only a sophomore next year, would not get the chance to train under him without being part of the travel choir. He is quite a remarkable director, and how our small community has been able to keep him for two decades is a puzzle, but our good fortune. His youngest though is the same as our DS, they went to school together graduating almost a decade ago, and he and his wife want their own adventures.
We will help her now and then, but not as much as we did with Spain as we used some of our family vacation money, reserved from our Washington DC trip, to put towards her fund. With spending money, her costs will be about $2700, with the final trip payment due January 31. This gives her a little over 9 months to save $2,500, and another six weeks after to save for spending money. She has $365 saved, not counting what she has not yet deposited in her long term savings, gift money slated for college. It's a heavy lift, and a whole lot of car washes, bake sales, and crying children are in her future! I'll do periodic check-ins on how the kid is coming along on her savings goals.