Keeping Up the Cash Flow
College is a great time to start practicing smart money habits. Many college students experience more freedom in college than they've ever had before. Unfortunately, in exercising this freedom, some college students go a little too far by mismanaging their funds or spending money they don't have.

Talk with your student about money before he heads off to school this semester. Here are some questions to get the conversation started:

• How much money are you planning on taking with you from your savings?
• What are you planning on spending your money on throughout the semester?
• Are you expecting to make any money this semester, and if so, approximately how much?
• Have you figured out a budget for yourself?
• What free on-campus opportunities can yu take advantage of (i.e. pre-paid fees for student activities or recreation facilities, meal plan options, phone service, etc.)?
• Are there ways in which we can help offset costs?

Having this conversation now will help your student begin thinking about the reality of his financial situation. Your student might make mistakes! But, hopefully a little bit of foresight and planning will help your student make smart money decisions this year.