Where Family is More Than Our Name
A generation has traditionally been defined as "the average interval of time between the birth of parents and the birth of their offspring". As times change, people change, and ultimately their needs change – especially financial needs.
Find your generation to see responses to different financial matters that may impact your ever changing environment.
For the young adult, learning ambition, mastery and direction over actions, maximum physical strength, and increasing confidence.
Student Loan repayment is a reality for people in this stage of life. Unlike grants or work-study aid, loans remain a part of your life long after college graduation. It's important for you to give some serious thought to how much debt you're willing to take on and to have a plan to repay loans as quickly and easily as possible. Suggestions for student’s repayment should be no more than 10 – 15% of a new grads income. To learn more about student loans, contact escannell@familycu.com.
A check is like a making a promise - a promise to pay someone money. You can write a check to buy something, or to pay a bill. When you write a check or get a check, it means that there is a promise to pay the money due within a day or two – when it comes out of the checking account. If you are 14 and over, you can open a Family Credit Union checking account and have a debit card (as long as Mom or Dad signs with you if you are under 18).
Start an emergency/opportunity fund: The uncertainty surrounding the world of work will likely means your life may be a series of job and career changes. If you need to go to school full-time to change career paths, you may have stretches of time without stable income.
Building up an emergency fund to cover three to six months of "bare bones" living expenses can help you control work-related transitions. This type of savings fund can also be used for opportunities such as starting your own business.
