It seems like the high temps and sunshine just started and now it’s time to start thinking about fall. Is your college student ready? Not just for classes and college life, but for the independence that comes with it financially?
Setting your college student up for success in the “real world” of finances starts with a budget. Encourage them to be honest with themselves separating wants from needs. Do the math (everyone’s favorite school subject, right?) and adjust from there. Stress the importance of thinking ahead and making decisions their future self will thank them for. It’s our job to prepare them for things teens don’t think about when it comes to being an adult, such as saving for retirement, building their credit score, setting financial goals, and having an emergency fund, etc.
As a parent, you’re probably also wondering if you’re ready for your kid to start college. We’re guessing budgeting for tuition, applying for assistance and scholarships, and filling out all of those forms is a big change for you, too. And if you’re going to be coming home to an empty nest, you’re about to have a lot more time on your hands. Take this opportunity to reward yourself for a parenting job well done by taking up a new hobby, traveling, or reconnecting with old friends.
At The Bank of Gillette, we are committed to helping everyone in our community find success. Whether you’re just starting out on your path to adulthood or are starting another new path to adventure, we take pride in being part of your journey.
Best wishes to students of all ages and paths this upcoming school year.