My daughter will be graduating from nursing school this December and is planning her next step toward independence. She does not have any siblings, cousins are not close geographically, so we all want to make sure she can stand on her own two feet. The other night at dinner she told me she is very concerned about how to make a budget. Because I have an expense summary report, I can easily help her with this. Inside, I smiled when she voiced this concern, this is an adult concern, and maybe we won’t have to worry so much.
We have always discussed that she needs to save and not spend every cent she has, but she has not had a “real” job yet. We would like her to try to identify as many regular living expenses as she can, save 6 months of those expenses, which she should not touch, then move into her own place with confidence. We try to impress upon all of the 20 somethings that we meet that an emergency fund is a big deal. Having cash gives you choice- saving for yourself on a short term and long term basis is a must.
If my daughter’s concerns represent those graduating this year, we as parents can give ourselves a pat on the back that we have done something right for this next generation.

disclosures:http://www.hechteffect.net/?page_id=31