There are other ways to motivate students than requiring them to take on debt or work long hours taking away from their studies. For example, we don't allow our kids to work during the school hours their freshman year. After that, they can work a little but not so much that it hurts their education.

When you give people who are being financially responsible money, you are enabling them to continue a bad habit. So you are actually helping by saying, "Love you but no."

Money may not be able to buy you love, but conflicts about it can certainly bankrupt your relationship.

I will just say, no matter where you buy the car, do your homework. When I purchase a car I come in with a folder an inch thick. In fact, one time the auto sales person asked if he could copy my research!

My kids have to maintain good grades. They have to be involved in activities. They have to report to me how thing are going. I watch for any activity that would steer them wrong - drinking, drugs, etc. So their skin in the game is knowing the money won't be there if they don't do their part.

Once you finish paying for college you could reduce your life insurance.

I'm not a fan of debt consolidation. In my experience, many people "clear" credit cards and other debt to get the one payment and never change what they need to change to prevent getting into debt again.