OUR 2018 BACK-TO-SCHOOL SHOPPER!

School year survival tips

“There’s a lot be learned on the journey through postsecondary, but the bigger lessons on independence don’t come from a textbook,” says Laura Plant, senior director of youth and student banking at a Canadian chartered bank. “So, a few survival tips can help everyone earn a passing grade.”

Parents: Don’t do it for them. Provide advice on what it means to budget, but encourage your student to manage their own finances. Don’t grocery shop for them, and if you must buy cleaning supplies, make sure they do the cleaning.

Students: Don’t plan to ask mom and dad to bail you out. Plan ahead and stick to your budget. Make activities like cooking and cleaning fun chores to do with friends and roommates.

Give kids their space!

• Parents: It’s okay to help get them set up with supplies for the first few weeks. But don’t call every day to make sure they’re eating well and doing their homework. Set up a regular touchpoint so everyone knows what to expect.

Students: Walk, don’t run away from home. Stay in touch. The more details you give parents, the more freedom you’ll get.

Independence!

• Parents: When the kids are away at school (university) you’re allowed to call, but recognize when enough is enough.

Students: You’ll get high marks on independence even if you need a little more help than you expected. It’s alright to admit you forgot to budget for cleaning supplies or transportation. Learn as you go, and take the time to be open with your parents to make it right.