While in the local coffee shop this afternoon I overheard two young ladies at the table next to me discussing their finances. I would have to assume that they were both in college and out on their own for the first time. Their classes will be over in May and they were brainstorming summer job opportunities and whether they could afford to stay in the area or would they have to go back home and live with their parents to save money.
The one closest to me admitted that she had run up her credit card to the maximum and had little spending money to get her through the rest of the school year. I suspect her spending style will put her home with mom and dad for the summer!
I suppose that is one of the good things about the college experience, being out on your own and accountable for your own money. But I would have hoped that more parents would have talked with their kids about managing their finances before shipping them off to school. I know we have tried our best to prepare our sons to be financially responsible. They know how to balance a checkbook and to spend wisely. I hope they paid attention to the struggles of others and the advice we gave them, so that they never have to face bankruptcy or other serious consequences later in life.
If the girls at the coffeeshop need help in the future, I hope they took the little business card I left on the table for them with a note to look up IVA online. It’s never too late to deal with your problems and turn things around if you have a little help.
Posted: April 5th, 2009 under Finances/Money, Life, Parenting.
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