Gifts For Your Grads
May 25, 2017Living in Retirement
As college and university students complete their studies and enter the workforce, there are a few things parents or other family members can do to help them on the journey to paying off student debt, being successful and saving for the future.
- Professional guidance
Encourage your new grad to book an appointment with a professional advisor. A FaithLife Financial Representative will use a holistic approach with five financial principles that your grad can live by for the rest of his/her life. Advice around budgeting, student debt and saving options will also be considered to make sure that at every life stage your grad has protected their financial future.
- From classroom to boardroom
Give your grad a gift card so they can update their wardrobe or have a personal session with a career counselor. Both of these will help your grad focus on making the best first impression when entering the work force. Career counselors can help with updating resumes and social media profiles, practicing interviewing skills and providing tips for workplace etiquette.
- Long-term savings
A strong financial footing is rooted in long-term savings for the future. Ideally you would have started to save for your grad while they are still in school – putting money they may pay you for cell phone bills, car insurance, etc. into a TFSA, which they will have access to when they graduate to pay off student debt or to invest. You can also look into other investment options like stocks and cash gifts that can be directed into a mutual fund account or a whole life insurance plan.
New graduates need to be educated when it comes to the financial realities of life. A solid financial foundation for the future includes a financial planning strategy that will help them reach their goals. Visit faithlifefinancial.ca to find a Financial Representative who will give your grad a FREE financial review today!