Every parent at some point probably has "the talk" (as in, the birds and the bees) with their children, but not everyone with kids attempts "the financial talk."
With the start of a new year, new semester or any new phase in life, discussing how to lay the groundwork for a stable financial foundation is a vital conversation to have with your children.
While a college diploma may reflect the achievement of a broad base of knowledge in certain areas, it often fails to prepare graduates for the basic life skills that can make the difference between prosperity and hardship.
The anticipation of transitioning from collegiate life into the workforce can often distract students and parents from taking a step back to contemplate and analyze important choices in a rational way. It's easy to focus on a glamorous-sounding job title or exciting new city, but it's important to know how to evaluate life options so that unanticipated financial burdens or obligations don't take you or your child by surprise down the road. The topics below are often forgotten, but critical to cover with your kids when discussing life in the "real" world.