It's almost back to school time, which I am NOT excited about.  Do you have a child going to college?  Here are some tips to help them!

Budget -- hard: Get them to draw up a weekly budget, listing all their known income and projected payments. The difference is how much they need to earn, or how much they can spend on partying.

Get insurance: The average student takes thousands of dollars worth of possessions to college. If the goods are not fully covered by your home insurance or the college's own policy, they'll need to arrange their own.

Wise up on travel: Walking and biking are free. But if they're taking a car to college they will end up as an unpaid taxi driver. Get them to ask friends to contribute towards gas.

Be a discount pro: Many stores offer student discounts but don't advertise about them -- so ask.

Pick up a recipe: Cook your children a meal and you feed them for a day; teach them how to cook and you'll be feeding them for life -- and saving them money at college.

Check paystubs: Even part-time workers should receive at least the minimum wage. Students also need to check how much tax the employer has deducted -- especially if they have more than one job.

Consider an allowance: If you don't trust them, or they don't trust themselves, students could hand their per-term loan/grant payment to Mom and Dad, to be doled out as a weekly or monthly allowance.

Stay on track: Learning to manage finances is part of the college experience. And as 18-year-olds are officially adults, parents are not legally responsible for their debts unless they have specifically guaranteed them.