Preparing Your Children for College
by
Gregory Grant
Before long, students will be packing their bags and heading off to college. They are prepared with newly minted high school diplomas, laptop computers and maps of the campus. But are they prepared in other, just as important, ways?
"They are going to have to deal for the first time with rent and they are going to have to deal with what its going to cost to run the lights and the water and everything else in the apartment," says Mitch Slater of Merrill Lynch. "And they're going to have learn how to share those costs with their roommates. Boy these are real issues. I think I'd want to talk about these now rather than when they are in school."
Realities of College Life
Living in a dorm or an apartment is a good way for a young person to face the realities of budgeting and paying bills. But parents should warn their college student about paying those bills with plastic. The credit card companies allow a generous credit limit, even to first time users.
"They're going to build up these credit limits which they'll probably spend after one month and then suddenly they're going to have a bad credit history," says Slater. "That's something for a parent to worry about because it's going to make it very difficult for their kid to buy their first house to get their first job. A lot of early careers are ruined because of credit cards."
Thousands of young people will soon be heading off to college. Having a clear understanding of money and finances will serve them well during college and beyond.
In recent years, companies have flocked to the web to set up dot.com sites. Initially retail companies caught the attention of investors and consumers alike.
When to sell a stock is as important as when to buy a stock. The investor that goes beyond just looking at the financial pages will find that this kind of in-depth research will pay off in helping to make wiser investment choices.