While parents love to look for signs that their kids are musical prodigies or potential Olympic athletes, many don’t know how to recognize the signs that their teen and young adult offspring are floundering when it comes to money management skills. Dealing with your kids’ disasters is one of the downsides of being a parent, yet the more proactive you are in watching for signs of potential financial failure, the easier it will be to turn around the situation.
A parent’s work is never done. Throughout your offspring’s life -- from childhood, the teen years, and into their 20s -- there are times you’ll need to step in to educate your kids about money matters big and small. It can be a lot of work, but the payoff is worth it when you know you’ve done your best to raise a financially savvy person with a strong work ethic and sense of responsibility.
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