For most young adults at the beginning of their financial wellness journey, the phrase “start right now” can be intimidating and can leave you wondering, “Where do I start?”
Before you jump into a world of potentially unfamiliar financial products and plans, let’s look at the most relevant terms you’ll need to know before you kickstart your financial independence.
Spring is a beautiful time of year. The flowers blooming, the fresh air, the recent college grads moving back home… wait, what?
Many young adults are moving back in with parents after graduating. This is mostly for economic reasons; low entry-level salaries and high student loans can make moving back home a necessity while recent graduates gain their financial footing. And thanks to the pandemic and shortage of affordable housing, there are more fledgling adults living with parents than ever.
No matter the reason your new grad is returning to their childhood home, it’s important to set boundaries and communicate them clearly to make the transition as smooth as possible for everyone involved. A little common courtesy will go a long way toward making cohabitating a pleasant experience for you and your new grad. These tips can help parents and their “boomerang” kids adjust to their new normal.
As a parent, you’re responsible for teaching your kids important life lessons. You help them learn their ABCs, how to tie their shoes, and to look both ways before crossing the street. But do you teach them about saving money? Learning how to budget and save responsibly are key skills they’ll need to succeed later in life. In honor of Financial Literacy Month and National Credit Union Youth Month, here are six ways to cultivate smart savings habits as your child grows up.
Getting approved for a mortgage when you have college debt can be complicated – but having student loans does not mean an automatic denial. Nearly 46 million Americans have student loan debt as of 2022, and many of those holding loans are looking to be homeowners soon.
If you owe a student loan debt or are planning to buy a home in the future with someone who owes, don't fret! Owning a home is not out of the question. Knowing how mortgage approvals are determined and what to expect will help you on your way to homeownership.
