Everyone knows that having a child is a lifetime commitment but at some point you expect them grow up and venture out into the world on their own. This usually happens after high school. They go off to college with the skills you gave them through the years (cooking, cleaning, and climbing into bed at a reasonable hour) and promptly forget them all. But you are only a phone call away and you’re more than happy to help them from afar. However, I think we can all agree that even though they’re out of the house, a college dorm hardly qualifies as life in the real world. So if you want them to continue to succeed after graduation, it couldn’t hurt to help them prepare.
Adjusting to life outside an institution of higher learning can be difficult in many ways. For starters, students leave behind a lifestyle in which they had help planning a schedule (counselors/advisors) which they were most likely not expected to follow (many teachers put the onus on students to show up or not). As an adult, it is rare to receive a handout. Jobs must be sought and fought for. Kids used to skipping class to sleep in or hang at the quad are suddenly responsible for getting themselves to work on time and in a productive state of mind. This can be a shocking transition. But as a parent, you can help them prepare for this in several ways. For starters, make them work throughout college. Even if you have money set aside for them, they will get a lot more from holding a steady job than just a paycheck. They will learn responsibility, build a resume and become accustomed to adhering to a schedule. You should also encourage them to go for internships in their field. In today’s competitive job market it is more important than ever to get a foot in the door and internships could lead to job offers down the road.
The major learning curve comes in the arena of money handling. Students may emerge from college with no credit, no money, and no idea of how to earn and spend if you don’t help them prepare. For starters, have them take a class in personal finance. At the very least they will learn how to plan a budget and start saving. These are life skills that everyone should be aware of. You can also make them pay a bill, say, their cell phone, to get them in the habit and teach them a little restraint (there’s a good chance they’ll stop going over their limit when they receive a $300 phone bill). As for earning credit, a credit card is the best way to start, but make them get their own; if they only qualify for a low limit, so much the better. But if they don’t qualify at all, they can try a secure card through the bank that uses their own money as collateral and returns it after a year (with interest). As long as they pay the bill on time, their credit score goes up.
There are many skills and lessons you can teach your children to prepare them for life in the real world. From finance to scheduling, they are going to need a lot of input from you to get on their feet. But remember that your love and support is number one. As long as they know they can fall back on you for advice (and a free meal once in awhile), they are sure to enter the adult world as the confident and competent individuals you endeavored to raise.
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