Got the first check. A whole whoppin' $56.
It is going into an investment account for DD's college fund.
That's what I'm doing with all of her CS. Dad's helping me. He's already got one going for all 6 grandkids and in the last year it's increased 12%. That's a pretty good return considering.
So I've asked him to help start one for me with DD's money. There should be no issue with college expenses, but I'm going to encourage her to work hard for scholarships and that money could go to a car, housing, etc.
I'm determined to make the most out of the money I get because honestly, I don't know how long this will last. He'll surely become un-employed again as he has been and if he goes back to Texas, he can find numerous under the table jobs adn then DD is screwed.
Re: First CS payment
I am more excited that I can fund her college to some extent (if not all) with this. Even if I just get a few thousand or a few years of CS out of him, by the time she is 18, Dad and I will have it grown into something much, much bigger in 15 years.
If I get the full 15 years paid, she's going to have college paid for, a car, and housing. But I won't bank on that.