Phil's Personal Finance Tip of the Day:
3 Money Topics to Discuss Before College Starts-Get your college-bound teen started off right—and save money!
From daveramsey.com on 21 May 2012
By Rachel Cruze
If you’ve ever had a kid who went to college, you know that it’s not uncommon to get a call that goes something like this:
“Hey Dad!.”
“Hey son. How are things?”
“Classes are going well, but can you send me $100 by the end of the week?”
“Well, things are kind of tight here. But what do you need the money for?”
“Uh, you know, books. Things. Just school stuff.”
“All right. Well let me talk to your mother.”
In the dorms, I heard conversations like this all the time. A few days later, dad transfers the money to his son’s account. But what happens after that? Where does that money actually go? Is Junior a human black hole?
Despite his best intentions, that money is probably going to something more than just “school stuff.” Don’t get paranoid (unless you need to be). It’s doubtful your son or daughter is involved in anything sketchy, but it’s easy as a college student to spend a few bucks here and there and never even realize how quickly it adds up, until it is all gone and the cycle repeats itself.
I continue to see this happening, and that is why I’m here to help. If you’ve got a kid about to head off to campus, think about these possibilities and talk them through together before you drop him or her off at the dorm.
Extracurricular Activities
Does your teen plan on being in a sorority or fraternity? With all the parties and formals, Greek life can be expensive. And then you also have intramural sports, meal plans and all kinds of other clubs and organizations that might cost a pretty penny. Sure, it’s perfectly fine to have some interests outside of school, but make sure you and your teen budget and save for them beforehand. If not, you’ll be getting even more frequent calls for your hard-earned $100 bills.To read the entire article from Dave Ramsey.com:
http://www.daveramsey.com/article/3-money-topics-to-discuss-before-college-starts/lifeandmoney_college/text2/
I am never bored anywhere; being bored is an insult to oneself. — Jules Renard
at Dave Ramsey.com.
No comments:
Post a Comment