We believe with knowledge comes confidence. So we’ve assembled a collection of timely information and expert market commentary designed to give you new insight into the ever-evolving financial marketplace to help you build the confidence that comes from being a knowledgeable investor. Bookmark this page and check back for regular updates.
Klingman Insights
August 15, 2019
As you get ready to send your child to college, you’ve undoubtedly been busy with trips to Target and Bed, Bath & Beyond—getting everything they need for school and preparing them for life on their own. But there may be a few things you haven’t considered that can help ensure the experience is a positive one for the entire family.
At 18, your child is considered an adult. Yes, they can stay on your health insurance policy, but, there are a few things you should know:
When your child goes off to college, they may no longer be fully protected by your home or auto policies. What you need to know:
When it comes to budgets and finances, you may be deciding between providing your child a debit card or a credit card. While debit cards may have some advantages, consider that credit cards tend to offer greater protections in the instance of fraud or theft. Using a credit card will also help develop a credit history for your child which should ultimately boost their credit rating down the line.
Whatever you decide, it is important to ensure your child understands the importance of budgeting. Also make sure to discuss with her/him what you are and are not willing to pay for, as well as all of the responsibilities – and potential dangers – involved with having a card.
This may be more to think about than you expected. However, doing the research and putting the right tools into place can keep your children protected and give you comfort when they leave. Do not hesitate to reach out to the Klingman & Associates team if you have any questions or would like help in considering how to handle any of these issues.