As college-bound students prepare to leave home, they often lack basic life skills. To make this transition easier, parents can teach their children skills like budgeting, time management, and health management. Understanding money management is crucial, with skills such as budgeting, learning about compound interest, and grasping basic investing principles to lay a foundation for their financial stability.
Financial Literacy
A recent survey found that 78% of college-aged students learn personal finance skills from their parents. Parents should teach their children how to make a budget, use a budget worksheet tool, and track their spending to avoid overdrafts. If the child plans to borrow student loans, parents should ensure they understand how student loans work, including the difference between federal and private loans.
Health Management
When kids enter college, it can be difficult to manage their health independently. Parents should empower their child to manage their health on their own, including understanding over-the-counter medications, recognizing when to seek medical attention, and maintaining a healthy lifestyle. Parents should also teach kids how to navigate their own medical appointments and fill out paperwork.
Time Management
College life can be overwhelming, and teaching children stress-reduction techniques, such as mindfulness, exercise, or seeking counseling services, can help maintain mental health and overall well-being. Parents can also help their kids implement effective time management habits, such as using planners or digital calendars to keep track of assignments and commitments.
Other Essential Skills
Other essential skills for college-bound students include cooking, laundry, and transportation. Parents can teach their children how to prepare simple, nutritious meals, do laundry, and use public transit or ride-sharing apps safely and efficiently. Additionally, parents should teach their children about personal safety, including how to protect themselves from getting drugged or assaulted and what safety resources are available on campus.
Original reporting: KTVZ (Central Oregon) — read the source article.
