For many high school students, senior year is an exciting time—and an expensive one. Between car shopping, campus tours, and prom night, there’s a lot going on during the time leading up to graduation. During this transition period to independence and adulthood, it’s essential to build key life skills. Learning how to budget and manage money now will help set students up for a lifetime of financial success.
With classes moving towards online or hybrid learning, the need to have access to a reliable machine becomes more and more necessary with each passing year. With so many options for performance, features, and of course price, how do you choose a machine that will fit your needs without burning your budget?
The Department of Education’s pause on federal student loans and interest accrual ends September 1, 2023. Payments will start back up in October 2023, so if you haven’t selected a repayment plan yet or are looking to adjust your payments to fit your current circumstances, now is the time to do your research.
As every parent knows, juggling is part of the job. When it comes to financial matters, though, knowing which ball to keep airborne is not always clear. Case in point: Should you prioritize saving for retirement or for your child's college education? Financial planning is similar to parenting in that the decisions are complex and not always straightforward. While the best choice for you will depend upon your unique situation and needs, a few general considerations can help you create an informed strategy.
Financial literacy is an essential life skill that lays the groundwork for a successful future. As parents, grandparents, or guardians, it’s crucial to teach children about money management since that’s often not covered in schools. To help you guide your little ones on this important journey, we've compiled a list of seven common mistakes to avoid when teaching your kids about money.
On August 24, 2022, President Biden announced a three-part plan help federal student loan borrowers transition back to regular payment as pandemic-related support ended. The plan details $10,000 in canceled debt for those earning less than $125,000 per year and $20,000 for Pell Grant recipients, as well as future changes for loan repayment.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress in March 2020 in order to help struggling Americans during the pandemic. Included in the plan were assistance programs for workers, families, businesses, state and local governments, and more. While many are familiar with the $2 trillion stimulus package distributed earlier this year, the CARES Act has another benefit: the federal student loan payment pause.
National Back-to-School Prep Day occurs annually on August 15, as the summer winds down and fall is just around the corner. While the hallmark of the back-to-school season is shopping for notebooks, backpacks, and supplies, there are plenty of lifestyle changes you shouldn’t forget. Whether your children are back in the classroom or on a hybrid model, here are seven smart tips for a smooth back to school transition this year.
You’re not a kid anymore, and you’ve got some exciting things to look forward to. If you aren’t heading to college, you may be starting at a trade school or joining the workforce. No matter what your next step is after high school, making smart financial decisions will help you start strong. Learning how to successfully manage your money now is an essential skill that will pay off for decades — literally!
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.
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.
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.
Going to college is a big step. You’re able to stretch your legs and develop the skills you need to be independent once you graduate. One of the most important skills you’ll need to learn isn’t taught in the classroom: how to manage your finances in college. Here are a few key tips to help you learn how to save money in college, build a solid budget, and help keep your checking account growing rather than shrinking each month.
You’ve finally graduated from college and are ready to strike out on your own. Then it hits you: There are a lot of new financial responsibilities ahead. If you’re like most new grads, the thought of financial independence seems appealing on the surface, but if you’re not sure where to start, it can feel overwhelming fast. Luckily, there are a few things you can do to start out on the right foot.
April 1st marks the beginning of both National Credit Union Youth Month and Financial Literacy Month, so what better time to find resources to teach your child about money? Passing along your experience and insight is one of the greatest gifts you can give your kids. This is especially true when it comes to supporting their financial literacy. Building a strong financial foundation from an early age will help set them up for success throughout their lifetime. Here are four areas to focus on.
School transitioning to online-only or a hybrid environment last semester may have caught you and your students off guard. Going from a dedicated classroom environment to staying home, distractions and all, can affect a student’s morale, grades, and mental health. Add in parents and siblings who may also be working or learning at home, the school year and summer vacation blending together, and the absence of a teacher’s watchful eye, and you have a recipe for a poor learning experience.
Maybe you want your job to be more fulfilling. Maybe you want to make more money. Either way, taking steps to advance in your career – or start a new career – can be one of the best ways to improve your quality of life and financial security. But moving forward professionally requires having the right skills. Valuable professional skills can range from technical skills that require specialized training to less tangible (but equally important) assets like leadership and empathy. If you’re looking to acquire more of the skills you need to succeed, here’s where to begin.
The best way to make college affordable is to start saving as soon as possible. And the best way to build your college fund is with a tax-advantaged account or savings plan, which can help you grow your savings faster and keep more money available for what’s important: your child’s education.
No matter your idea, there are plenty of tools and resources to help you start your dream business – and keep it growing – if you know where to look. For many budding entrepreneurs, credit unions can be an irreplaceable partner when starting a small business.