1. Teach your kids how to do their own laundry
Do this before they leave the “nest”. Yes whites, colors and dark clothes do have to be separated. Perhaps you could splurge on a gift of laundry detergent. In order to save money my now 21 year old son washed his clothes in a bath tub for his first year at university. Needless to say when he came home to visit we were wondering what the peculiar smell was - he had a huge bag of dirty laundry in tow. Am I the only parent who thinks kids should do their own laundry, especially when they come home to visit? I already supply the water/electricity for the washing machine/dryer and the laundry detergent! Doing the laundry for your kids can be a handicap for future co-habitation.
2. Help your son/daughter put together a budget, preferably using an excel spreadsheet
The other side about learning to budget, is of course learning to save. This seems to be a dying skill. Bring it back to life for the good of your kids. Our daughter was the first one off to college and this spreadsheet idea really worked. It made us realize pretty quickly that the housing costs in London were more expensive than the actual tuition!
It paved the way for more relaxed future discussions about money as we had a benchmark to go back to, especially if more money was needed. She has learned how to save despite a tight student budget and is now ready to use this skill as she enters the world of work.
3.Teach your kids some basic cooking and grocery shopping skills