At age 19, children generally become ineligible to be claimed as a dependent on the tax return of a parent. An exception to the general rule applies to full-time college students. Parents with a child in college may be able to claim the child as a dependent if the child is under age 24 at the end of the tax year. Even if a working student files a separate tax return, there is still only one sole personal exemption for the child that can be claimed on one of the two returns.
When it comes down to it, most of us could manage our money a little bit better. I found myself in this boat a few years ago, when I realized that I was almost broke because of my poor spending habits. I was tired of being constantly out of money, and it felt like I was drowning in debt. I knew that I wanted something to change, so I started focusing on making the most out of my money. I spent a lot of time completely overhauling my budget, and it really made a great difference in my personal life. I realized that I had a lot more money, and that I wasn't as stressed about finances all of the time. Check out my blog!