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Setting your college student on the road to financial success

September 19, 2014

Here’s a great idea…

Parents can help their college-age student on the road to financial success by encouraging good money management skills. A college education can be expensive with costs like a dorm room or apartment, transportation, textbooks, food, and clothing.   Many young adults are on their own for the first time when they go to college. Suddenly, they have to handle their own finances.

In Other Words…

Unfortunately, some college students set themselves up to start their financial lives in the hole. But, this doesn’t have to happen. Students who get a grip on money management can avoid the future financial stress of overdue bills and struggling to make ends meet.

How This Applies to You….

Give your college student the tools for financial success. Here are a few important basic concepts all consumers need to know: create a spending plan to match expenses to income, think about needs vs. wants to plan expenses carefully, comparison shop for the best price on big ticket items, and use credit cautiously. Guide your college student in learning these critical skills.

To Find Out More….

Learn about these basic financial management skills at

http://www.uaex.edu/health-living/personal-finance/default.aspx

Students can take a free online course money management course, Love Your Money, at: http://www.loveyourmoney.org

Click here for a copy of the college budget

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