I remember the moment I made the financial transition from college student to independent adult.
It was when my father took my credit card -- the plastic he had supported as a co-signer through four years of college -- and used very sharp scissors to cut it into pieces in front of me and one of my friends.
The big event occurred shortly before I left home to start my first job. It served notice that the days of counting on the bank of mom and dad were over.
Having just watched child No. 3 collect his college diploma, I now fully appreciate how my father must have felt when he cut the financial tie with me. Indeed, my wallet already feels a bit heavier now that I no...