Advice to Parents

Parting Thoughts

Before your child moves home, this is another point to recheck your budget and finances. Parents sometimes end up in serious debt when they focus on their grad's financial needs without thinking of their own. If you find you cannot afford to continue supporting your child. What should you do?

1. Take out a home equity line of credit to gain the extra money you need.
2. Let your child know how much you care about his or her future; then help brainstorm other financial strategies he/she may be able to use.
3. Avoid discussing your personal finances with your child.

"B" is correct. It's best to be open and honest about your situation. You can still provide emotional support. Click here if you need help sorting out your finances.

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