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Consumer credit counseling and parents' could help finances through college years
By Peggy Stillwell on Jul 17th, 2010
The summer will be over before some people know it, and many younger consumers will be making their way to college for the first time.
As a result, some parents may want to sit down with their kids to make sure they have the proper amount of financial education to handle being on their own. In a recent column for MarketWatch, Chuck Jaffe noted there are a couple of things to look over before children head off to school.
Consumers should check on insurance policies and whether they'll cover children while at college. Furthermore, checking a credit report can make sure that young people are in good financial standing before they leave, a tactic Jaffe will employ when dealing with his own children.
"With my daughter, I'm not expecting to find much there," Jaffe wrote. "Still, I want to know she starts with a clean record and I'd like to be aware of changes - if she comes to me for any credit counseling - over time."
Young people may opt for other sources of advice, such as a consumer credit counseling service. Colleges and nonprofit organizations often offer tips on how to properly manage debt and a budget.
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