If you have a recent high school graduate who is college bound in the fall, consider setting budgeting expectations a few months before they step on campus. Your discussions can pave the way for other decisions, such as whether seeking a part-time job makes sense, or looking for alternative means of transportation (other than the expense of a personal vehicle). College is typically a young adult’s first foray into independence, so here are five quick tips that can help set them up for success – and ease a few worries on your end.

1. Calculate expenses now. That may seem obvious, but in all the excitement of starting a new adventure, it can be easy to put off doing the less enjoyable tasks. If your student is living off campus – but not at home – this step is particularly important. But on-campus students should also fully understand what is included in their “room and board”—and what they be responsible for paying. In some cases, off-campus living may be less expensive, so be sure to compare. ‍
2. Evaluate the free services the college may provide. Many colleges have health centers that offer free basic health services to students. Other services to check into include gyms, tutors, and writing services. ‍
3. Understand your financial aid requirements. If your student is attending with the help of federal financial aid, they may be required to carry a certain number of course hours per semester, impacting their work availability.‍
4. Detail the credit card pitfalls. Credit cards can be a temptation. Unless it’s an emergency, make sure your student understands to never charge more than can be paid back when the bill becomes due. And, if it can be avoided, try to steer them clear of the many tempting credit card offers college students get. ‍
5. Learn to thrift. If thrift shopping is new to your student, do some summer bargain hunting! Visit some thrift shops for dorm or apartment items, as well as for clothes. If your student will be working part-time or participating in a work-study or intern program, they may need some professional clothes; both off-line and online thrift shops are worth exploring for items that would otherwise be financially out of reach on a student budget.

College is a launch pad into adulting, and an ideal time for your student to learn that budgeting doesn’t have to be a dreaded experience. However, not having enough money in your budget to take care of your expenses is!