For many students, college can be like a pressure test for the real world. Suddenly, they’re surrounded by their friends with little adult supervision – including no one to help them understand why budgeting is so important.
If your student has a part-time job, or if you send them a monthly stipend, it can be both tempting and easy to blow through that money quickly, with random runs to Target, late-night diner stops, off-campus brunches, etc.
That’s why working with your college-bound kids over the summer can help set them up with healthy saving, spending, and budgeting habits for the rest of their lives. If they understand how to manage small amounts of money while in college - and how to say no when something simply doesn’t fit their budget - they’ll be better equipped for financial success after they graduate.
If you’d like some guidance in helping your children put a budget in place, or introducing the concepts of saving and spending to them, send me an email or give me a call!