numerous credit card solicitations once they enter college. Having a credit card can hold some merit with students. In fact, many parents provide their college-age children with credit cards with low credit limits for use in emergencies or to purchase items such as plane fare home for the holidays.

However, without the right financial management skills, all that easy credit can create debt problems for the college student. Be sure to educate your child about the reality of credit card debt and help establish responsible spend

You understand how easy it is to spend money and the importance of managing expenses and cash flow. But have you shared this wisdom with your children?

While a well-rounded high school curriculum is essential for preparing a child for college, nothing can transition a collegiate student into the world of independent adulthood better than being financial responsible.

Overspending is more often the norm rather than the exception with college students between school supplies, books, food and the midnight pizza runs. This is why it is important for you to lay down some financial ground rules and help your child gain an understanding of basic money matters prior to entering college.

a. Discuss expectations – both yours and your child's.

b. Provide a lump sum each semester, making it clear how long the money will have to last.

c. Explain when checks will come, their amounts, and any rules about their use.

Don't just tell your child to be financially responsible; show him or her how to do it. Illustrate how to manage expenses and cash flow with real-life examples from your business. If your child has a job, help him or her to set up a basic bookkeeping system to keep track of income and expenses and the timing of cash inflows and outflows. Then review it together and discuss how it applies to managing finances during college.

Whether your child will rely on you for financial assistance, use his or her own money earned from work, or combine funds, it is important for your student to know how various bank accounts work. Meeting with a bank representative gives your child an opportunity to ask questions and lays the foundation for becoming financially responsible.

Cashing personal checks away from home is often difficult, so the ATM machine is an ideal tool for getting funds to your child. With the advent of online banking and phone banking, a deposit into your child's account is available at the push of the button. However, discipline must be emphasized so that your student does not "dry up the well" by withdrawing funds too quickly or carelessly.

Your child will receive numerous credit card solicitations once they enter college. Having a credit card can hold some merit with students. In fact, many parents provide their college-age children with credit cards with low credit limits for use in emergencies or to purchase items such as plane fare home for the holidays.

However, without the right financial management skills, all that easy credit can create debt problems for the college student. Be sure to educate your child about the reality of credit card debt and help establish responsible spendi

why it is important for you to lay down some financial ground rules and help your child gain an understanding of basic money matters prior to entering college.

a. Discuss expectations – both yours and your child's.

b. Provide a lump sum each semester, making it clear how long the money will have to last.

c. Explain when checks will come, their amounts, and any rules about their use.

Don't just tell your child to be financially responsible; show him or her how to do it. Illustrate how to manage expenses and cash flow with real-life examples from your business. If your child has a job, help him or her to set up a basic bookkeeping system to keep track of income and expenses and the timing of cash inflows and outflows. Then review it together and discuss how it applies to managing finances during college.

Whether your child will rely on you for financial assistance, use his or her own money earned from work, or combine funds, it is important for your student to know how various bank accounts work. Meeting with a bank representative gives your child an opportunity to ask questions and lays the foundation for becoming financially responsible.

Cashing personal checks away from home is often difficult, so the ATM machine is an ideal tool for getting funds to your child. With the advent of online banking and phone banking, a deposit into your child's account is available at the push of the button. However, discipline must be emphasized so that your student does not "dry up the well" by withdrawing funds too quickly or carelessly.

Your child will receive numerous credit card solicitations once they enter college. Having a credit card can hold some merit with students. In fact, many parents provide their college-age children with credit cards with low credit limits for use in emergencies or to purchase items such as plane fare home for the holidays.

However, without the right financial management skills, all that easy credit can create debt problems for the college student. Be sure to educate your child about the reality of credit card debt and help establish responsible spend

ash flow with real-life examples from your business. If your child has a job, help him or her to set up a basic bookkeeping system to keep track of income and expenses and the timing of cash inflows and outflows. Then review it together and discuss how it applies to managing finances during college.

Whether your child will rely on you for financial assistance, use his or her own money earned from work, or combine funds, it is important for your student to know how various bank accounts work. Meeting with a bank representative gives your child an opportunity to ask questions and lays the foundation for becoming financially responsible.

Cashing personal checks away from home is often difficult, so the ATM machine is an ideal tool for getting funds to your child. With the advent of online banking and phone banking, a deposit into your child's account is available at the push of the button. However, discipline must be emphasized so that your student does not "dry up the well" by withdrawing funds too quickly or carelessly.

Your child will receive numerous credit card solicitations once they enter college. Having a credit card can hold some merit with students. In fact, many parents provide their college-age children with credit cards with low credit limits for use in emergencies or to purchase items such as plane fare home for the holidays.

However, without the right financial management skills, all that easy credit can create debt problems for the college student. Be sure to educate your child about the reality of credit card debt and help establish responsible spend

ives your child an opportunity to ask questions and lays the foundation for becoming financially responsible.

Cashing personal checks away from home is often difficult, so the ATM machine is an ideal tool for getting funds to your child. With the advent of online banking and phone banking, a deposit into your child's account is available at the push of the button. However, discipline must be emphasized so that your student does not "dry up the well" by withdrawing funds too quickly or carelessly.

Your child will receive numerous credit card solicitations once they enter college. Having a credit card can hold some merit with students. In fact, many parents provide their college-age children with credit cards with low credit limits for use in emergencies or to purchase items such as plane fare home for the holidays.

However, without the right financial management skills, all that easy credit can create debt problems for the college student. Be sure to educate your child about the reality of credit card debt and help establish responsible spend

numerous credit card solicitations once they enter college. Having a credit card can hold some merit with students. In fact, many parents provide their college-age children with credit cards with low credit limits for use in emergencies or to purchase items such as plane fare home for the holidays.

However, without the right financial management skills, all that easy credit can create debt problems for the college student. Be sure to educate your child about the reality of credit card debt and help establish responsible spending habits early in their college experience.

It is never too soon to begin teaching your child smart financial habits. Life will be easier for you with a college-age child who manages his or her own finances, and your child will benefit from learning how to properly manage his or her money.