How to set your college student up for financial success

CHICAGO (WLS) -- A lot of college kids are still home on winter break and now that Christmas is over, it's time to talk money and how to save it.

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