To Central Parents:

A recent study of over 2000 college students indicates that parent teaching is particularly important to the development of students’ financial habits in adulthood.  Before coming to campus, talk with your student about proper financial management. Discuss what their budget will be, how they will pay for various items (cash, debit card, credit card), and how to save while keeping track of finances.

Financial practice

Help your student learn more about managing money by discussing family financial decisions. Show them that you have greater expectations of them to be a financially responsible adult.

Budget

Most students will be unaware of the expenses of college. Talk with your student in advance about who is expected to pay for which expenses. Possible expenses may include tuition, books, supplies, cable, parking, extra food, entertainment, insurance, or phone bill.

Credit Cards

Talk about your family's views on how many credit cards a person should have. Discuss with your student what you believe is best for them to do with the credit card offers. Suggesting that students discard (shred and throw away) most offers and keep only the most important or intriguing offers to discuss with the family is a good way of dealing with the multitude of offers they may receive. Use the following information to help guide your discussion:

Positive uses of credit cards:

Help your student avoid these signs of unwise spending and overspending