This week’s theme on the Retirement Quick Tips Podcast is: Setting Up Your College Grad For Financial Success

Today…I’m talking about the most important thing you can do to set your young adult child up for success: teach them how to budget. How to track their income coming in, spending and money going out, and make sure that the latter never exceeds the former.

Some parents aren’t comfortable with helping their child in this area, because maybe you’ve never budgeted yourself or feel that your not great with money. Not to worry.

There are so many amazing resources out there, and it can be an opportunity for learning together. As a graduation gift, pay for enrollment in an online or in person class to learn best practices. It can be something fun that you can learn and do together.

If you and your grad love to read, there are great books on budgeting you can read and learn together, bonding over budgets!

Most courses and books are inexpensive and the financial reward of understanding how to keep finances in check will serve them well for decades, with potential generational impact as they will be able to pass on what they learn and good financial habits to their own children.

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance