The majority of parents want to raise their children in a way that will prepare them for life in the real world. As all adults know, money is the foundation of living a comfortable life. Then, why is it that parents who want to raise kids to be responsible adults don’t think about the importance of teaching them about money? Kids go to school and learn about history, math, science and a host of other things, but they don’t go through a financial class that prepares them for managing money. No, this is left for parents to do. So, how does one raise a financially responsible teenager?

The first step is to talk to your teen about money. Don’t be afraid to share details with them about your finances. All kids, and especially teenagers, need to understand how money works and the importance of managing it correctly. Parents can start talking to their kids about money before they become teenagers, but it is something that is an absolute must for those who want to raise financially responsible teenagers.

The best way for teenagers to learn the value of money is to learn by trial and error. This is why encouraging teens to get a part-time job is a great idea. By working a part-time job, even if it only is in the summer, teenagers will learn to appreciate the connection between work and money. Now, to help teens learn to manage their money wisely, parents need to start requiring their teens to pay for some of their own things.

Nothing will be accomplished if your teenager is working part-time, but is able to spend his money on whatever he wants because you are providing him with all his necessities such as a cell phone, car, gas, clothing, etc. Now, that doesn’t mean everything has to be turned over to your teen. For example, if you prefer to pay for your teen’s car payment and insurance then you could considering making him pay for the gas money. Also, it’s a great idea to set a budget of how much you are willing to spend on your teen’s clothing each year and don’t go over it. When the limit is reached, your teen will have to start buying clothing with his money.

By taking simple steps like those listed above, you will be showing your teen how to manage money through real life lessons. It’s possible that your teen will make mistakes. For instance, he buys some clothes he really wants and then realizes he doesn’t have enough money for gas to go out on the weekend. Well, then the solution is he doesn’t go out. Yes, it will be hard to not hand over some extra cash to your teen so he can have a nice weekend, but by refusing to do so you are showing him the importance of managing money. It is better that your teenager learns these lessons while he’s still under your protective care than when he’s off to college and gets evicted from his apartment due to lack of money management skills.

Raising financially responsible teenagers is not a simple thing to do, but it is possible. And, when parents take the time to teach their kids about money and how to manage it properly, they are teaching them important lessons that will follow them for their entire life. When you successfully raise a financially responsible teenager, you will be able to rest much easier when he leaves for college and enters the real world. And, that’s the ultimate goal!

Protect your child from graduating “book smart but money dumb” – help them avoid debt, financial stress and paycheck-to-paycheck living. Give your child the gift of MoneySmarts – for a lifetime of financial Intelligence, Independence, Security and Success!

Whether the new college student is staying at home or going to live at the college dorm, there are some things that need to be done to show the teen how to prepare for college. This isn’t just a new experience for the student, but for the  parents as well. That means both parties should be ready to handle this new phase of life.

Paperwork: Naturally, one of the most important things to wrap up is the paperwork. Those who don’t prepare for college by filling out the correct paperwork may find themselves lacking when it comes to classes, supplies and even financial aid. Check to be sure that the paperwork for the following areas is covered: Financial aid, housing, academic schedule, admissions paperwork and testing.

Supplies: Take the summer to learn what is needed to take to college. Visit yard sales and outlet stores to find decent deals on things like a dorm fridge and organizational supplies. Update schedules and address books to reflect your schedule and maintain contact with family members and friends.

Vehicle: Whether you’re going to be riving to school every day or you plan to stay on campus and come home on weekends, you’ll need to be sure that you have a well maintained vehicle. It would be a horrible thing to miss a class or trip home because you forgot to change the oil!

Medical: Whenever you are going to a new area, it’s a good idea to take the time to visit your family doctor and make sure all medical issues are taken care of. Fill prescriptions that you can and transfer what you are able to so that there are no last minute problems getting your medications when needed.

Communication: If the student doesn’t already have a cell phone, now might be the time to get one. Family plans offer discounts for family members to talk to each other. This could be a great way to save money on phone bills, including long distance charges if the student is moving out of the area.

Goodbye: It’s always a good idea to plan some sort of get together so that people can say goodbye to those that are leaving for college. Don’t underestimate what an enormous change this is going to be. Parents and young  adults alike are usually nervous at this time. It’s not a bad idea to take the time to talk about fears, concerns and goals with loved ones. Parents should be careful to not overburden their children with expectations and anxieties, just as children should not underestimate the advice that parents give them. Now is the time to talk to each other as adults about to take an unfamiliar step together.

Written by Lorraine Nyc – Featured Mental Health Contributor; Featured Parenting Contributor

Here are some resources you may find valuable when helping your teen prepare for college:

Instant College Admission Essay Kit: Admission essay/personal statement writing kit with 33 downloadable templates that can save applicants hundreds of dollars.

Financial Aid Information Site: One-stop shop for anything about college financial aid. Learn how you can quickly and easily get more Financial Aid without having to apply for thousands of scholarships!

Send Your Child To College Free. Or Close to it: A money back guarantee. This is a guide for people who have a low to moderate income to a practically free college education, even if you have excessive credit card debt.

Admissions Essay: Admissions Essays is the first and best admission essay and personal statement development service on the Web. Unlike other sites, our Ivy-League educated editors and writers not only offer critique and proof-reading services — they provide complete and unique model essay development services.

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In today’s age, it is more important than ever that parents provide their teenage children with the knowledge they need to make in the financial real world. Young people are faced with financial challenges the moment they leave the safety net of home. Everyday we hear about what happens when they are not prepared: record debt, foreclosures and bankruptcies are just a few of the problems people experience. Those are the big ones but consider the fact that just one credit card late payment will haunt them for 7 years. These problems can all be avoided by giving your children the foundation financial education skills needed for financial independence.

Looking at the statistics it is apparent the majority of parents do not have enough knowledge to raise a financially responsible teenager. Public high schools have been teaching similar subjects for the last 50 years and financial education is not one of them. Because of this, many parents never were taught about money and feel unprepared to raise a financially responsible teen.

Raising a financially responsible teen in today’s society is critical. There are ways to raise your child to achieve financial independence at a young age. Even if you have made financial errors yourself there are resources available to help give your children the advantages many parents wish they had.

5 Foundation Lessons to Teaching Your Teenager Financial Responsibility.

Helping your high school or college age child to achieve financial independence will give them an advantage that they will use everyday of their life. Below is a list of the top lessons that will establish a solid foundation to raising a financially responsible teen.

1. Ethics – Developing a high moral character will help your teenager earn more money, be a better job candidate and be an overall good person that people respect. In today’s society being a well respected member of the community will help them gain financial independence. The most wealthy and well-respected people are those with high ethical standards.

2. Communication A key to bringing up a financially responsible teenager has a lot to do with their communication skills. It gives them the power to persuade people and align others with their personal goals, which is fundamental quality to greater earning power. Helping them to develop their writing and speaking skills will increase their chances of getting hired and they are more likely to get paid what they are worth. What’s more great communicators are more likely to be leaders within a company or become successful entrepreneurs.

3. Proper mindset-Negativity hinders all things in life and can destroy teenagers chances of achieving financial independence. Teach your children to think with the end goal in mind. Creating a vivid image of their desired goal will give them the motivation they need to reach their dreams. Studies show that positive outlooks attract positive events so encourage them to develop a mindset that will help them develop into a happy, well-rounded, financially responsible adult.

4. Passion -Help your teenager to find and follow their passions. Give them advice on how they can make money by following their passions. When your child loves what they do it doesn’t feel like work and they excel at what they do. By understanding your teens dreams you will get to know them on a deeper level plus you’ll be helping them develop a skill that will last a lifetime.

5. Organizational skills- Achieving financial independence at a young age will be aided by having good organizational habits. Lead by example; show your teenage child how having an organized schedule, space, and life will benefit them. Doing so will allow them to reach their fullest earning potential

These five tips lay the ground work to achieving financial independence. Of course additional financial lessons need to be taught to help them handle their money; however helping your teen to have a good head on their shoulders is the critical first step.

By helping them to develop these skills you’re giving them a head start to achieving the freedom of not having to worry about money. You can help your child achieve financial independence at a young age by giving them the skills necessary to go out and make it in the real world.

Protect your child from graduating “book smart but money dumb” – help them avoid debt, financial stress and paycheck-to-paycheck living. Give your child the gift of MoneySmarts – for a lifetime of financial Intelligence, Independence, Security and Success!

Looking for financial aid to help foot the tuition bill? Follow these 10 tips to help you secure the funding help you need and remember – don’t wait until your child’s senior year to start thinking about financial aid. The sooner you start, the more money you may be able to find.

1. Get an early idea of your EFC

Estimate your Expected Family Contribution (EFC) during your child’s junior year. By getting an idea of what you might pay, you can find colleges within your price range and identify what you might need in scholarships and loans to manage your tuition costs.

2. Reduce your child’s savings

An entire 20 percent of your child’s assets are considered available for college, as opposed to just 5.6 percent of yours. Encourage your child to save, but keep college funds in a custodial account.

3. Learn a little about marketing

This is one of the most important aspects of competing for merit-based awards. Highlight your child’s accomplishments and an award committee will be that much more likely to consider giving a scholarship to your son or daughter.

4. Make financial aid a part of your campus visits

Ask to speak with someone in the financial aid office – it’s the best way to get your family on the radar for campus-based awards. Afterwards, take some notes! These contacts could come in handy later.

5. Do a bit of detective work

Determine if your child’s application for aid affects the probability of admittance. If so, find out how.

6. Make a decision on early decision

If your child is thinking of applying Early Decision or Early Action, determine how it will affect your chances for aid. Early Decision acceptance may prevent you from comparing awards, because your child will have to commit to the school before you see the aid offers from other applications. (This is not a factor if your child is accepted under an Early Action or Single-Choice Early Action application, as these are non-binding offers.)

7. Determine the effect of outside awards

If your child receives an outside scholarship, find out how it will affect your financial aid award. Some schools will lessen grant aid, and others will pare down on loans. The school’s policy will affect the amount you’ll have to borrow.

8. Pay attention to deadlines

The sooner your child files his or her college applications, the better your chances of receiving aid. To assist with financial aid forms, file your taxes as early in the year as possible. Keep in mind that if you are applying to schools that require the PROFILE financial aid application, it may have an earlier deadline than the FAFSA.

9. Complete the FAFSA

Fill out this form, even if you think you won’t qualify – very affluent families sometimes qualify for aid at certain high-tuition schools. This single application is your gateway to all federal loan, grant, and work-study awards that total in the billions of dollars.

10. Make your college aware of special circumstances

If you have lost your job since completing the FAFSA or PROFILE, inform schools about your situation. Most have standard policies that allow for the use of projected income, which could increase financial assistance.

Financial Aid Information Site – One-stop shop for anything about college financial aid. Learn how you can quickly and easily get more Financial Aid without having to apply for thousands of scholarships!

Rising tuition? Little-known resources can help

(ARA) – Students in California are boycotting rising tuition costs, but across the country most students are forced to shell out big money in order to continue their education.

The College Board reports two-thirds of students are in debt at graduation. In 2009, the average debt for graduating seniors was $23,000. Student borrowing has more than doubled in the past decade to $86 billion. Most college graduates struggle for a decade or more to pay off their student loans.

“I was always told that education was the most important, no matter what the price,” says Stephanie Cluff, 26, who graduated last year. “Now I find myself feeling completely overwhelmed by all of my student loans.”

Students who have a lot of debt are usually the same ones who don’t know how to secure free money from grants and scholarships. “Part of the problem is that students coming in as freshmen do not understand smart borrowing and spending habits,” says Rebecca Porter, director of enrollment at Indiana University.

Students fail to understand that total loan amounts also include rapidly increasing interest as well as fees. Interest on federal loans starts at 5.8 percent and runs considerably higher for private loans.

Fifty percent of the students who graduate without debt took advantage of university or national scholarships and Pell grants. “If students took the time to see what scholarships and grants they are eligible for, there would be a whole lot less student debt,” Porter says.

Online education resources like ClassesAndCareers.com are a great help to students who are continuing their education to learn more about scholarships, grants and financial aid. Here are a few money-saving tips for students:

1. Get by without a car. Most campuses have good public transportation or have easy accessibility. The money you will save on insurance, gasoline prices and parking can add up to thousands of dollars in annual expenses.

2. Buy used. Thanks to thrift stores, garage sales and Craigslist you can get almost everything pre-owned. Clothes, textbooks, bikes, and furniture are just a few of the things that can be bought secondhand and save you tons of money.

3. Avoid eating out. Learn how to cook basic meals. Buy snacks from the grocery store that you can bring with you to classes so you don’t have to be spending at vending machines or the student center.

4. Be creative for entertainment. Instead of paying $10 for a movie or bowling, think of other things to do for fun that don’t cost so much. Game nights, dance parties, or sports are just as fun and won’t kill your bank account.

5. Find a balance between school and work. Students who work part-time or during the summers may find it difficult to graduate in four years, but they will graduate without as much debt. Online colleges are beneficial for students who need the flexible work schedules and go to school at the same time.

If you need help with your student finances, visit ClassesAndCareers.com and fill out the form. A career counselor will assist you in setting up a financial plan to help you get your education debt-free. Or to speak with a career counselor, call (888) 361-6346.

Financial Aid Information Site: One-stop shop for anything about college financial aid. Learn how you can quickly and easily get more Financial Aid without having to apply for thousands of scholarships!

Instant College Admission Essay Kit : Admission essay/personal statement writing kit with 33 downloadable templates that can save applicants hundreds of dollars.