My youngest daughter is on a scholarship of $380 pw (after tax) and can manage to pay $175 pw rent, pay for all the usual living expenses - and run a car which is regularly serviced.
Sorry! I'll get off my soap box now - am afraid the subject of 'financial illiteracy' gets me going every time.
Sounds like you taught your daughter well. Unfortunately, I got a job while at uni that paid $50,000 a year, and 3 years later I was on $120,000 a year. I was young, and money was easy come easy go. I owned 2 sports cars, a motorcycle, went overseas regularly, and gave large sums of money away (at least that wasn't wasted. I believe the Salvos sent quite a number of ex-street kids to TAFE on my donations.) I woke up at age 28, realised I was earning at least double, if not triple my friend's wages, and had less to show for it than they did.
2 years later, I now have a massive deposit for my house, and drive a cheap car (immaculately self serviced I might add!). I have a lot of young friends from previously having done a lot of volunteer work with youth, both disadvantaged and from privileged backgrounds. It's my soap box as well (Shove over and give me a bit of room!). I cringe every time I hear a friend borrows large sums of money to buy a car at age 18-20... It's not an income generating asset fool! Live within your means and borrow to make money!!!
