When parents finally get some breathing room after their kids leave college, unexpected expenses can blow through their finances. Financial experts identify several costs beyond tuition and fees that families should prepare for.
Betsy Hutchins thought saving for her two children’s college educations would ease her household finances. However, the reality was different. As she watched her children leave for school, new expenses appeared on her radar.
Financial planners recommend considering these often-overlooked costs:
* Room and board
* Food
* Transportation
* Extracurricular activities
* Health insurance
Source: https://www.marketwatch.com/story/the-kids-are-out-of-the-house-and-i-saved-for-college-how-are-they-still-spending-so-much-of-my-money-39a09bfa