How To Get Yourself And Your Teen Ready For The Next Step
You are so happy for your teen. Sure, there have been some ups and downs over the years, but he or she has made it to high school graduation and is now heading for the next big step- college. While your heart swells with pride, there is also an ache there, too. Getting ready for your child to leave home can be difficult for the parents, but helping your teen properly prepare for college can help you have peace of mind, making the transition easier.
One of the most important ways you can prepare your teen is by helping him or her understand finances. The way your soon-to-be college student handles money during the next four years will significantly impact his or her life.
To begin, make sure that he or she has both a checking and savings account and has put away some money into an emergency fund, kept in the savings account. This gives your student a cushion, ensuring a flat tire will not mean subsisting off ramen for weeks.
Secondly, help your student understand credit. Consider helping him or her open a credit card with cash back or points towards miles (this could help him or her get home for more holidays!).
Finally, and very importantly, make sure that your teen fully understands his or her student loans. Far too many students graduate into huge amount of debts without fully understanding how this will affect their lives moving forward. If you can, consider paying the interest on your student’s loans while he or she is in school so it will not build up over the years.
When your child leaves home, you may find yourself feeling lonely. Fortunately, you do not have to make the transition alone. Contact the Community Presbyterian Counseling Center in San Ramon, California. Some college students find that even checking in over the summers is a helpful way to touch base with a caring therapist to work through family and academic issues that arise while going to college.