We all had financial lessons we had to learn in college the hard way. So as that college student in your family gets ready to leave for school, here are a couple of tips they can take along with them.
Encourage your college student to create a budget. They might not be too excited about this idea, but it will help them in the long run because it allows your student to plan expenses—such as books, food and housing payments—in advance.
Also, have your college student sign up for notification services from their bank. Most banks now allow customers to receive notifications via email, text or mobile applications whenever their account falls below a predetermined balance and when a large purchase is made. This will teach your college student to keep a close eye on their account security as well as their spending habits.
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