1. Help your student plan a budget.
2. Encourage financial education.
3. Allow space for failure.
Does her car need a new tire immediately, but she can’t afford it? She’ll see that emergencies pop up out of the blue, and you need to have a fund for that. You don’t need to leave them high and dry, but experiencing the occasional money stress will prepare them to prioritize in the future.
4. Encourage a part-time job to foster financial success in college.
About Your Richest Life
At Your Richest Life, Katie Brewer, CFP®, believes you too should have access to financial resources and fee-only financial planning. For more information on the services offered, contact Katie today.