A few weeks ago, we wrote about helping your child secure a summer job, and while learning to work and save are crucial milestones for young people to achieve, being encouraged to dream and allowed to spend are equally important. So how do parents instill the right work/life balance within the children? We suggest the following 3-step activity to lay the groundwork for creating a simple spending plan dictated by personal values. For a breakdown of the steps, check out the College Coach Insider Blog at blog.getintocollege.com.
This is part two of an ongoing series we’ve launched on the Insider blog on “Kids and Money.” As you prepare to send your child off to college, you should also be thinking about how to foster in them the skills necessary to build financial independence. In this series, we’re discussing how students can earn, spend, save, borrow, and protect their money in a way that aligns with personal and family values. Type “Kids and Money” into our Search Box to find all installments of the series.