Money Insights

The Award for Best Practice

   FAQs   Blog   TwitterFacebookLinkedIn

Subscribe via email:

Enter your email address:

Delivered by FeedBurner

August 2011

Cash Flow 101 - A non-credit University Course

by Rona Birenbaum  |  Add Comment

Before your child heads off to University this fall, give them a chance to earn their first “A” by having them complete a Caring for Clients Student Cash Flow Worksheet.

In fact, it’s a great project to complete together with your child, since you are likely a big part of the income side of the equation.

Completing the worksheet has the following benefits:

1. Reduces the chance of a “cash call” towards the end of the school year.

2. Helps the student see how individual expenses that seem minor add up to a really big annual number.

3. Identifies shortfalls that you and your children can discuss. Ask your child how they suggest closing the gap. (Part-time job perhaps? Contribution from their summer earnings?)

4. Begins teaching them the importance of budgeting since they don’t teach that in University. (High Finance doesn’t help you balance a personal budget!)

The worksheet is sufficiently detailed to ensure that all possible expenses and sources of income are taken into account.

Have a gold star sticker in your back pocket to put on the finished project. You may get a roll of the eyes, but don’t kid yourself, your child will be proud of themselves.

Let’s get started! You can find the worksheet here.

Add Comment



   MoneySense Approved Financial Advisor     Top 50 2015

Top of page