3 Ways to Prepare Your Child for Adulthood

posted by Karen Quinn, The Testing Mom - May 17th, 2022

Parenting older children into adulthood can be a difficult feat. There’s a lot of pressure to ensure that your children are adequately prepared for their futures. Parents should strive to give their children the resources and tools they need to be successful adults. Elements like education, housing, and personal finances are three main areas that parents should focus on when preparing their children for the future. 

• Education 

Education is a major component of preparing your children for adulthood. Since parents play a crucial role in their kids’ education, parental engagement is one of the best ways to make sure your child succeeds in school. Staying on top of your child’s educational values will ensure that their learning needs are being met. Start by doing simple things such as meeting your child’s teacher to feel more engaged in their education. Set aside time out of your day to make sure they’re understanding and completing their homework. Having conversations about their day at school and what they’re learning is another great way to show interest in your child’s education. 

As children grow and learn, parents should be transparent about the different educational paths available to them. These could include college or entering the job field. If your child wants to enter the workforce right away, make sure they’re equipped with the proper job skills needed to succeed in the field. If college is the route that your child wants to take, it’s never too early to start preparing for this major milestone. Work together with your child to  create a plan to ensure that their educational goals can be met. 

• Housing 

At some point in time, your child will feel obligated to leave the nest. Make sure that they have basic knowledge regarding housing best practices. A study by Homie found that 87% of millennials surveyed felt unclear about the process of buying or selling a home. Since every child is different, communicate with them to figure out what housing options are best. As they enter the next phase of life, encourage them to start asking, “how much house can I afford?” This is a great jumping-off point for young adults looking to become homeowners. Work with your child to understand budgeting and creating tangible housing goals that align with their finances. When they do hit this stage, consider whether they’re looking for short or long-term housing options. Additionally, parents should stress the importance of seeking help when needed. Consider utilizing a real estate agent to aid with additional stressors such as paperwork or finding a suitable home. 

• Personal Finances 

Personal finance knowledge is crucial for helping your children succeed as they explore new journeys in their lives. Older children should develop a deep understanding regarding personal finances so that they’ll be able to make smart financial decisions. Parents should start with the basics and gradually get more in-depth. A great place to start is with saving and budgeting. Helping your child create a budget will help keep them on track to accomplish their financial goals. Work with them to analyze their daily spending habits and help them make any necessary changes. 

As parents, we always want our children to be prepared for anything. This is where teaching children about emergency funds can come in handy. Emergency funds are a great resource to fall back on when unexpected challenges arise. This could be anything from car repairs to medical bills. As your child starts to grasp the concept of personal finances, they can start to look into investing. Long-term investing strategies are a great way to prepare for the future. Investing can be a difficult task to navigate, but financial coaches are a great resource for older children to make sure they’re on the right path toward achieving their goals. Personal finances are a major responsibility in adulthood, but with the right guidance children can be as prepared as possible. 

Preparing older children for adulthood can be a scary task but it’s very rewarding for you and your child. Giving them the tools they need to succeed will help them stay on track and become the best version of themselves. Additionally, the more tools they have the less likely they’ll make poor decisions.