SCHOOL ALMOST IN SESSION – BETTER BUSINESS BUREAU HAS FINANICAL TIPS FOR STUDENTS AND PARENTS

It is that time of the year again: the infamous back-to-school moments that weigh on both the parents and the students.  But this year, amidst the turbulent economic reports and the uncertainty some families are facing with their finances, some key information and advice may be lost on those incoming college freshmen from their parents.  The Better Business Bureau (BBB) recently issued a helpful reminder of tips parents can reference to pass along to their children regarding their finances as they prepare for this crucial moment of their lives.

Key among the advice the BBB provides for parents are the following four points:

• Be responsible with credit cards – Keep your children aware of both the importance of establishing credit and the impact bad credit can have in their futures.
• Start saving money now, even if it’s just a small amount every month – This allows students to plan ahead, budget accordingly and learn the benefits of savings accounts.
• Pay your bills on time – Late fees and a lackluster credit report are common marks against a college student’s early financial plan.
• Guard your personal information­ – Parents are strongly advised to instill a sense of awareness and guard for their children with regards to their personal data to prevent the risks of identity theft.

For complete details and statistical evidence regarding the information parents may pass along to their children, please visit the BBB’s official website, http://www.bbb.org, and read their release titled BBB Financial Advice for College Bound Students (and their Parents).