Help Your Children Become Financially Independent
At which milestone do you think parents should end significant financial support of their children? A poll in Consumer Reports Money Advisor (July 2006) asked this question, with these results:
- Graduating from high school (7%)
- Completing further education (41%)
- Getting a full-time job (30%)
- Getting married (7%)
- Parents should always give financial support (15%)
Regardless of your personal opinion about this question, few would dispute the fact that helping your children become financially independent will ultimately be best for them. You can do that by teaching them, by example, the principles of sound money management. You can find excellent resources on the TFCU web site and at your public library or local bookstore.