I understand the desire to give kids all of these things. I personally don't think I owe my kids a car, and I think kids could share a bedroom, but I think that's a personal preference. The things I find important are the extra curricular stuff and the college. I know a lot of middle-class people who have kids in their teens and they haven't started saving for college yet, and don't intend to. That really isn't fair to kids, since college is so expensive these days, in my opinion.
Your list of six is as impressive as it is ambitious. My parents provided 3 of the 6 (my own room, extracurricular activities, and a reasonable allowance) and I still think I turned out fine. They did help pay for college when I needed help but I think there were great lessons to be learned in paying for much of my own education.
As a parent, I would say that love and attention are much more important than any of the six items on your list. I would rather be a parent who has prepared them well for adulthood and has a great relationship with my children than one who was often absent to pay for their stuff.
As a financial planner, I would tell you that paying for a childs education at the expense of funding your retirement is a mistake.
Commenting by HaloScan
