No More Mac 'n Cheese!. Lise Andreana

some samples to begin your discussion:

      • Ethical values: Honesty, justice, trust, and fairness

      • Personal values: Modesty, gratitude, loyalty and faithfulness, diligence, and perseverance

      • Relationships: The importance of family, friends, and colleagues at work, church, and community

      • Emotional values: Compassion, kindness, and generosity

      • Health: Good health, physical fitness, relaxation, regular medical and dental care, protecting one’s good health, longevity, and care of the ill or disabled

      1.2 Education

      Many parents, given the financial means, are prepared to assist their children in the quest for higher education. Parental values and financial abilities may differ. Some parents are prepared to pay for their child’s education while others believe their children will benefit by contributing to the cost; and some are ill-prepared to assist their children in any capacity.

      Asking the following questions of your parents will provide you with important information as you choose your educational path:

      • Is it important to you that I achieve a college diploma? University degree? Beyond? Why?

      • Do you have the resources to help pay for my education?

      • Can I expect your support while I am completing my postsecondary education? To what extent?

      • If you can help me financially, how much can you contribute?

      • Can I live at home while going to school or would it be better if I lived on campus?

      • Will I have access to transportation (e.g., a vehicle or help with paying for a bus pass)?

      • Am I expected to pay my own way by using scholarships, applying for student loans, and/or getting part-time work?

      1.3 Returning to the family home after graduation

      What can you expect of your parents once you have graduated, assuming you wish to live in the family home until you are employed? Is it necessary for me to mention that you are now an adult and as such you cannot expect a free ride? For example, many parents are agreeable to adult children living with them while in school or while looking for a job. These same parents may not look kindly upon children planning to live at home while lazing around all day playing video games and entertaining friends. For many parents this would, rightfully, be the deal breaker.

      Maintaining a home costs your parents money. What are the monthly expenses for maintaining the family home? Think about the cost of a mortgage, utilities, food, and the use of a car. Discuss this with your parents; you may be surprised at their answers. Now consider how much you can afford to contribute as your fair portion. Be grateful for your parents’ support and remember, it is your parents’ home, and as an adult, you are a guest. As such, you should be prepared to contribute something and abide by your parents’ values.

      Before moving back in with your parents it is a good idea to ask them the following questions:

      • How long am I welcome in the family home after graduation (e.g., one year, two years, longer)?

      • What can I do to contribute to the household while living in the family home (e.g., chores, purchase groceries, pay bills)?

      • How much rent can I afford to pay? How much rent do you want me to pay?

      • Do you plan to assist me when I move out of the house? The ability and willingness to help varies among parents. Some are prepared to help financially (e.g., a contribution to the security deposit for the new apartment), while others will give their children home-cooked meals, old furniture, and anything else to see them off to a good start.

      • What are the house rules while I am living with you? The house rules will more than likely be different than when you were a teenager and in high school. New rules for privacy, lifestyles, and housekeeping may be implemented.

      Your parents may be so happy to see you launched into the big, wide world they will give you kitchen items, furniture, TVs, and computers that have been collecting dust in the basement. Accept all gifts gratefully, even if you end up re-gifting the items later on. Consider the money saved by not having to purchase everything at once.

      Let’s reflect on Cassie’s situation again. Cassie asks the questions above and is very surprised by what she learns. She discovers that her parents have very definite ideas about her future, some of which they have been planning for many years.

      Since her parents did not have the luxury to complete university, having Cassie complete university was very important to Cano and Francesca. They are very proud of her accomplishment.

      Francesca and Cano are happy to have Cassie stay in the family home while she searches for a full-time position. Cassie tells them it may take her up to six months to secure a full-time job.

      Cassie asks herself, “What if after three months of searching for my dream job I am unable to secure a position?” After three months of looking she is prepared to accept an entry level position with a major industry employer, just to get in the door. Not only are her parents happy to help, they worry about her student debt and realize Cassie will need to save for her first and last month’s rent. She will also need an emergency fund. Cassie and her parents agree that she is welcome in the family home for up to a year after she is employed, on the condition that she uses this time to reduce her debt and start a savings program. Cassie will be expected to help with the household chores and do the yard work while she is in their home.

      Cassie is feeling a lot better about her future. She is very much aware of her parents’ love and grateful for their support. With her parents’ help she will have a solid start to becoming self-reliant.

      3

      Steps for Students

      * Read this if you are a student.

      * Read this if you want to know how to get on the best path to a solid well-paying career.

      * Read this if you wonder about the value of part-time work and volunteerism while a student.

      Graduate students with no prior work or volunteer experience are at a distinct disadvantage. Prospective employers rely on the referrals of past employers, even if the jobs are not related. Naturally, those with past work experience, even in menial jobs, will find it easier to convince a potential employer of their value.

      Embrace volunteer and part-time work as part of your informal education, for here is where you will learn about life, work, and money before you are expected to pay your own way.

      1. Course Selection Leading to Success

      Careful selection of your educational program is required to make the best use of your student years. The decisions you make now will determine, to a great extent, your future career path and financial well-being.

      If your education will be funded with student loans, it is imperative you are able to repay this debt in a reasonable amount of time after you graduate. Ask yourself the following questions:

      • How much of my educational costs will be funded by debt?

      • Will I be able to repay this debt once I graduate?

      Unless you were fortunate enough to be born into a family of wealth, and your parents are agreeable to supporting your academic aspirations without limit, serious thought must be given to what the payoff will be.

      You will want to take courses that interest you and for which you have a natural talent. When choosing between two areas of study,