Certain financial decisions that they make can impact them for many years to come at this point in their lives. From not understanding the student loans they opt for to incorrectly using their credit cards with high interest rates, college is an important time for your kid's financial future. To set them up for success, ensure they know:
- Exactly how credit cards work (including the monthly payments and interest rates) as well as the differences between cards.
- The different types of student loans, which they have if they took out any, and what the pros and cons are for them.
- What a credit score is, what it is used for, and what impacts it.
- What a 401(k) is and why they should care about it.
