spending – Carol H Cox

By Carol H Cox

Recently, my husband and I cleaned out a walk-in storage closet in our home. This is a closet that had been created when we remodeled our house about 20 years ago, upsizing to fit our growing family. We have been filling this closet with books, papers, electronic paraphernalia, bags and backpacks, office supplies, documents, records, CDs, DVDs, and so forth for the past two decades.

All manner of things went into this closet over time, but rarely did anything come out. So we were faced with a monstrous cleaning project. We took all the boxes, bags, and piles of stuff out of the closet and lined them up along the hallway. This overwhelming task of sorting through everything, deciding what to keep, and disposing of items took us three weeks.

By Carol H Cox

At this time of year, the attention of many high school seniors’ becomes focused on transforming into college freshmen. It’s a thrilling time for young adults as they experience increasing independence, emotional untethering, and face new challenges. But before they “cut the cord” there are a few personal finance basics they should know.

Having a checking account with an ATM/debit card attached can make handling student finances easier.

Ideally, with the help of a parent, college-bound teens will have opened a checking account sometime during their junior or senior year of high school. Checking accounts are a convenient and easy way to store and access money. And most student checking accounts are free until the accountholder graduates from college. There will be many expenses in college that aren’t included with the payment of tuition, room and board, and fees, whether it be books, class supplies, toiletries, meals off campus, transportation costs, or other things. Using an ATM/debit card or writing checks can be an efficient way to handle these costs.

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A Lesson from My Closet

By Carol H Cox

Personal Finance Tips Before Heading to College