1. TEACH
Before your kids take off for college, teach them the three B’s: That’s banking, budgeting, and bill paying. “Parents get preoccupied by school performance, and they don’t think about their preparation responsibility,” said Pickhardt.
2. CLARIFY
If they do return home, consider what their presence will now mean for the household. How will they contribute? Will you support them financially? You may need to make a written agreement that both of you will sign. (See below for a link to our Boomerang Contract.)
3. REMEMBER
When kids leave high school or even college, they are not adults. Between 18 and 23, they’re entering the last and most difficult stage of adolescence: trial independence. Sometimes they need to come home and regroup.
In other words, taking the word failure out of the equation when they land on your doorstep will probably go far in getting them on their feet.
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