This week’s theme on the Retirement Quick Tips Podcast is: Setting Up Your College Grad For Financial Success

Today…

• Setting up auto-pay for bills

• Why: Setting up your essential bills on auto-pay will help remove the stress of remembering to pay your bills. You can often have some control over when those bills are paid, allowing you to pay bills automatically shortly after your child gets paid, ensuring they’ll have the funds available to cover the basic and mandatory monthly bills

• Stop paying their bills. If you’re still helping with cell phone bills, car insurance, rent, and grocery money, it’s time to cut most or all of that off once they’re working. Talked about this before. Many 20 and 30 somethings are still dependent on mom and dad financially well after their schooling years end, and that creates problems for both them and you. 

• Stopping the deposits from the bank of mom and dad, will help ensure that your child is incentivized to work and find meaningful employment and a career of their own. Making it too easy for children to live comfortably with your assistance will not help them learn to manage their own money or be financially independent in the long-run.

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast. 

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance