Meaning of Jump Start from Scratch

My kids JumpStart Jr. and Jumpstart Juniorita have minimal experience managing finances.  They have some basic stuff like youth bank accounts, reloadable cards, gift cards, and cash.  They don’t have a credit score yet.  Jumpstart Jr. will turn 18 in Feb of 2017 and will begin building his financial future from scratch.  I want to help him by giving that start a jumpstart.

The goal is for that jumpstart to include:

a college education with minimal debt at graduation

open accounts and running tools to manage finances

good relationships with financial institutions

a high credit score by graduation

a stash of frequent flyer miles, transferable points, hotel points, and cash

In March of 2020 Jumpstart Juniorita will be 18 and I want to give her that same JumpStart from Scratch.  Mrs. Jumpstart and I will have a kid in college for the next 7 years. As a couple of public school teachers, we need to accomplish this without wrecking our own finances.  JumpStart from Scratch is our story.

I consider us a normal family, but I guess everyone does.  I will be shocked if our story includes some huge academic/athletic scholarship. There won’t be any rich uncles.  I have no training as a financial advisor, and I have no insider knowledge about putting a kid through college.  We did use teacher salaries to buy a townhouse half a mile from the ocean for summer vacation unemployment.  I have pulled off some home improvement projects that I believe are pretty impressive, for a teacher.  I have read and utilized the advice and techniques from my favorite blogs to take my wife and family on some very cheap travel.  So while I do have a few skills, I want to make it clear, that I do not expect this to be a story where we hit some miraculous homerun, and get through without struggle.

I am already getting into struggle mode.  JumpStart Jr. is currently applying to colleges and graduation is fast approaching.  In March of 2020 Jumpstart Juniorita will be 18 and I want to give her that same JumpStart from Scratch.  Mrs. Jumpstart and I will have a kid in college for the next 7 years. As a couple of public school teachers, we need to accomplish this without wrecking our own finances.  JumpStart from Scratch is our story.

Interested in hearing more?  Look at my Goals/Mission or All the posts.