“A lot of them want to stay home and knock out some of that debt before they go out on their own. But if you want the bird to fly the coop, keep making it uncomfortable. A lot of parents make it very comfortable. Another thing I want to tell parents is its really important to get them started on the right habits. Pay yourself first, and start a mutual fund account that will let you pay as little as $50 a month. I provide a list if you sign up to my newsletter at DeborahOwens.com. A lot of times you think you need $2,000 or $3,000 but what many people don’t know is those minimum investments are reduced if you set up some kind of automatic account billing.”
Deborah Owens, ‘The Wealth Coach,’ is a 20-year financial services industry veteran and former vice-president and financial consultant with Fidelity Investments. She is a contributor to CNN, ABC News Now, News One Now, Essence Magazine, Ebony, Black Enterprise and other local and national media outlets.
She talks to Skip Murphy about the best financial gifts for college graduates.
Money Mondays: The Best Financial Gifts For College Grads was originally published on blackamericaweb.com