Roger Corral with Bank of America stopped by ABC7 with a few tips to help set your college student up for financial success.
Since college is a time when young adults are on their own for the first time, it's the perfect time to help establish healthy financial habits that they will carry for a lifetime.
Now that your son or daughter has a semester of college under his or her belt, chances are they've experienced some financial hurdles, and they may be more open to advice.
Here's how parents can help:
- Help your student write (and follow) a budget.
- Work with your student to start saving
- Assign your college student responsibility to pay at least one bill
- Start your student off with a low-balance credit card
- Check the Better Money Habits website for tools and resources for every stage of life