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.

This is part one of an ongoing series we’re launching 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 going to discuss 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.

Whether your child is old enough for a “traditional” summer job or not, there are definitely ways that kids of all age—teens, tweens, and younger kids—can make money during the summer, put their time to good use, and start saving.

As we make our way through the admission decision season, there is so much happy news to celebrate. Dreams are fulfilled, goals are achieved, all the hard work has finally paid off! But with this happy news there may also come some tough conversations about costs, debt, and compromise.

Many College Coach admissions advisors are also parents who have made it through the college selection process with their own teens. How did they survive? Through open communication and transparency with their children, not just in senior year, but early on. We hope their advice and insight is helpful to you, whether you’re currently debating financial aid offers for the fall, or just beginning the college conversation with your younger children.

Guest Post By Matt Symonds, Fortuna Admissions

A college friend once confided that her dad – at his emphatic insistence – wrote all of her undergrad admission essays. Given that she was a physics major with near-perfect grades at a top 10 undergrad institution, this parental intervention struck me as irrational (not to mention unethical).  Given the news we’ve all heard this week about parental overstepping to a criminal extent, I guess I shouldn’t have been shocked by my friend’s confession.

From rescuing to over-praising, we’ve been warned of the perils of helicopter parenting and its implications for children. Yet when a child expresses their intent to apply to a top business school, there’s plenty you can do to help without overstepping your bounds.

Last week, I was sitting in a movie theater watching Personal Statement, a documentary film about a group of students attending resource-challenged schools in Brooklyn—schools where each counselor was responsible for guiding over 600 students through the college admissions process. Top students in each school were called forth, not only to navigate their own college applications, but to provide guidance for other students who needed the help. Think about it: first-generation college students, students who had absolutely no familiarity with the world of admissions, were called upon to explain the process to their peers. There are students in our society who are not only pulling themselves up from their bootstraps, they’re manufacturing their own boots, too—boots for themselves and boots for their peers.

• Are you engaged in daily struggles with your tween or teen about their use of screens?
• Do you feel out of control when it comes to the online content your middle schooler is consuming?
• Are you conflicted about other people’s screen rules when your child is on playdates?

How to Instill a Spirit of Saving in Children

As parents, we understand the value of saving. We also know that the earlier one begins to stash money away, the better off one will be in the long run. Teaching children financial literacy concepts and encouraging them to save early is key. How, then, do we instill a spirit of saving in our children? I’ll share a few ideas that have helped my children learn—and get excited—about saving.

Happy New Year! Whether you’re a parent or student, a freshman or senior, January presents an opportunity for a fresh start. We polled our team of seasoned admissions and financial aid professionals for their resolution ideas to help you make 2019 a healthy, productive, rewarding year. Be sure to check out our podcast, Getting In: A College Coach Conversation, for even more tips.

Fall is once again around the corner, and that means back to school! In this week’s episode of Getting In: A College Coach Conversation, host Elizabeth Heaton addresses a topic that is sure to be on the minds of many parents who are getting ready to send their children off to college: how to let go. Also in this episode: your listener questions answered.

When I was a college Financial Aid Director, I saw MANY students taking longer to complete their degree than they—or their family—had planned. This cost the students and the parents additional time… and money.