saddletramp: Your point about buying a business as opposed to paying for tuition might very well be right. Even better might be to just start an investment portfolio for a/your child at a very young age. By the age of twenty-five, that could be huge. If you teach them how to think about that themselves, by the time they're in their mid-thirties or early forties, with any decent (though not stellar) job, they could be very comfortable.
I probably consider financial literacy to be third in importance of what anyone learns, beaten only by literacy and basic numeracy. Yet there's an enormous, gaping hole in the education system there. Usually, kids will do a two week unit on simple and compound interest (simple interest is a complete waste of time knowing about because almost everything is compounded) in mathematics when they're about fourteen. They may or may not do some kind of consumer studies subject later in high school, and then they may go on to study business/economics related subjects at the end of high school or at university, but the vast mass of people receive next to no practical education in managing money. If nothing else, I'm going to be actively teaching my kids all about personal finance, investing and behavioural economics.
And you coming in to scold us all like some kind of sour-puss kindie assistant who favors olive cardigans and lemon drinks without sugar. -- Muzha Man
One sometimes gets the impression that the mere words "Socialism" and "Communism" draw towards them with magnetic force every fruit-juice drinker, nudist, sandal-wearer, sex-maniac, Quaker, "Nature Cure" quack, pacifist, and feminist in England. -- George Orwell