It's Back to School Time in Chicagoland and Across America! Does YOUR Child know the ABC's of Credit and Finance?

It's Back to School Time in 

Chicagoland and Across America! 

Does YOUR Child know the ABC's 

of Credit and Finance?  

   

      It's "Back to School" time in Chicagoland and elsewhere across America ... 

    Kids of all ages are already in class rooms again.  A whole year's worth of new opportunities and chances are ahead.  

     Chances to learn, create, and foster new friendships.  Opportunities to gain knowledge and establish good habits.  Plant seeds of new ideas.

     How can we help our children take advantage of and build upon this new school year's many opportunities?  Here's an idea ...

     If you've read very many of my prior posts, you know that I'm a huge fan of educating our young regarding money and budgeting,  beginning at very early ages.   You also know that I'm thrilled that many of our nation's high schools are now requiring that our teens take credit and financial classes in order to graduate. 

     Why do I find these opportunities for credit and financial education of our young so important?  Why do I think we should take advantage of these opportunities now ... during this coming school year?  

     Consider these statistics on our Generation Y,  our youngest college-age/college grad kids in America ...

• Only 58% of Millennials pay their monthly bills on time.
• Average debt levels for graduating seniors with student loans rose to $23,200 in 2008. 
• 36% of all Millennials depend on financial support from their families, including 14% of all young adults who are working full time.

                    

      I find these statistics pretty sobering.  And I can tell you through my experience as a  Mortgage Originator  talking to mortgage applicants and as a speaker talking to teens, that many of our young, currently do not have an understanding or grasp of just how deeply their lives are affected by their credit scores and financial decisions.  

     So many do not know or understand that their credit standing and credit scores will dictate whether they can or will be able to:

• Establish credit in the first place 
• Obtain a credit card(s)
• Buy a vehicle
• Be Eligible for employment
• Have Access to Student Loans
• Obtain Insurance Coverage ... or how credit scores affect the cost of their coverage
• Get Cell phone service
• Rent an apartment
• Start utility services  (electricity, gas, cable companies)

    ... let alone buy a home or obtain mortgage financing in the future. 

    The need for this very basic understanding of credit and finance is extremely important.  

     With credit and credit scores dictating the ability to do so much ... and often dictating their access to so much more,  both in the short and long term, it has become imperative that our young ... especially those soon heading-off to college ... know and understand how to approach and handle the credit and financial options that will face them soon and throughout their future. 

     Heck, it's important for their parents' and families' futures too.  Did you see the percentage (above) of those millennials receiving financial support? 

     Solid, positive credit and financial habits are most easily learned and established while young.  Piggy Banks, chores, allowances, making youngsters save for expenditures ... are all great learning opportunities.  

     But Fall and starting back to school ... talks about new classes ... clearly, open the door for "having that talk" about credit and finances with your kids.  Why not take advantage of them?

     Help and opportunities for learning also exist outside of the family scenario.  Libraries, Scouts, online classes, businesses, park districts,  Mortgage Originators,  and more can all be good resources and places to seek-out credit/financial instruction and information for kids and their families.  

     And often, the advice and education are provided FREE of charge.  You can't beat that!

     Kids need to be aware and educated about just how far credit, and their credit standing, reaches into their pocket ... reaches into their future.  Have "that talk".   If you feel you need outside assistance, seek help locally or online. 

     And I would suggest that ... if your local schools are NOT offering educational opportunities regarding credit and financial responsibility to your children, ask the Administration and School Board to seek ways to add this important curriculum or opportunity for learning soon.  It's that important. 

     It's Back to School time in Chicagoland and All Across America!  Does YOUR child know the ABC's of Credit and Finance?  

     Help lay the groundwork for their healthy, less stressful financial future.  Teach them sound credit and financial habits now, while they are young.  Their futures will be brighter because of it ...

    *  If you're hoping to buy or refinance a home in New Lenox, Will County, or elsewhere in the Chicagoland area, please don't hesitate to  contact me.  I'll put my 40 years of mortgage experience and expertise to work on your behalf.

     I'm easily easily found at:

Gene Mundt

Mortgage Originator  -  NMLS #216987  -  IL Lic. 031.0006220  -  WI Lic. #216987

American Portfolio Mortgage Corp.

NMLS #175656

Direct: 815.524.2280 

Cell/Text:  708.921.6331 
eFax:  815.524.2281

gmundt@goapmc.com

  www.genemundt.com  

             

  

Gene Mundt, Mortgage Originator, an Originator with 40 years of mortgage experience, will offer you exemplary mortgage service and advice when seeking:  Conventional, FHA, VA, Jumbo, USDA, and Portfolio Loans in Chicago and the greater Chicagoland region, including:  

The Lincoln-Way Area, Will County, (New Lenox, Frankfort, Mokena, Manhattan, Joliet, Shorewood, Crest Hill, Plainfield, Bolingbrook, Romeoville, Naperville, etc.), DuPage County, the City of Chicago, Cook County, and elsewhere within IL & WI. 

Your Referrals are Greatly Welcomed & Appreciated!