Skip to main content

It's Graduation Time: Are Graduates Financially Ready for the Next Step?


It's Graduation Time:
Are Graduates Financially Ready for the Next Step?


My goddaughter, Katie, is graduating from high school this week.  She's just one of the approximately 3.3 million graduates graduating from U.S. public and private high schools this year.

Graduates: Get on the Right Financial Path. Contact Me!
We'll be celebrating Katie's accomplishment(s), as well as her upcoming journey in fall for college in New York, with our entire family in early June.  So much life lies in front of her.  So many opportunities and experiences ... 

I think back to when my wife and I were celebrating our 2 boys graduations.  It was an unbelievably exciting time for them and us.  But as parents, we also worried a bit.  We knew what lay ahead of them could prove challenging.  

Little did we know when we sent them off to college just what the definition of "challenging" would really be.  What do I mean?

Both of our boys graduated from college (one from law school, as well), then stepped out into the world looking for employment, during the economic "downturn" of the mid-to-late 2000's.  Challenging indeed.

Now here it is 10 years later.  Both met the challenges they faced and are doing well.  Thankfully.  

But although improved, the U.S. economy and job market remain challenging for many graduates, both high school and college.  Today's parents worry, just as Marilyn and I did, if their child is prepared for what lies ahead.

I can tell you from years of experience as a Mortgage Originator ... many are not. 

The number of mortgage applicants I've seen over the years with money and credit problems that could be traced back to the period following either their high school graduation or years in college is eye-opening.  

For many of my mortgage applicants, both those that were graduates of college and those having directly entered the work world, it was obvious from their credit history/reports, that during those times in their life they had:

  • Little or no concept of budgeting or saving
  • Not taken financial responsibilities seriously
  • No grasp or understanding of Credit/Debt
  • Poor financial habits
  • If/When in college:  Made bad credit decisions (Opened too many credit cards, maxed out credit cards, not paid credit cards in a timely manner, mishandled debit cards, not paid utility payments and rent, etc.)
  • Too many - too high Student Loans
  • More ...

 What's the Best Gift You Can Give a High School Graduate?
Years ago, I wrote an article entitled, "What's the Best Gift You can Give a High School Graduate?"  The answer contained in that post has only grown in importance during the last decade ...  


The best gift?  It's the "Gift of Knowledge" ... 

As I wrote in that earlier post, parents and guardians need to have multiple and ongoing discussions about financial issues with their children through every phase of their life.  Even toddlers are not too young.  They should also be candid about the pros, cons, and ramifications of their own money management skills.  

I firmly believe too, that parents should insist that every high school offer classes about money, credit, finances, savings, budgeting, and borrowing to their students.  We could prevent so much heartache and stress for them if they did.  (I reiterate my offer of assistance to local - Will County schools.)

We all have a responsibility to make sure the "gift of knowledge" is firmly put into place.  We must make sure that all our kids have the necessary "tools" at their disposal in order to learn ... then make ... sound financial decisions.  

The "gift of knowledge" is the best gift we can provide.  A gift that ensures our graduates are equipped to make sound financial decisions and avoid serious financial mistakes in the years ahead ...

 Get Answers Now!


*  In need of financing and credit answers? Looking to see what home buying or refinancing options exist for you in New Lenox, Will County, or elsewhere in the Chicagoland area? Contact me! I'll put my 40 years of Mortgage experience and expertise hard to work on your behalf.
I'm easily found at:


Gene Mundt
Mortgage Originator - nmls #216987 - IL Lic. 031.0006220 - WI Licensed

American Portfolio Mortgage Corp.
nmls #175656

Direct: 815.524.2280
Cell/Text: 708.921.6331
eFax: 815.524.2281

 Get a Quote or Be Pre-Approved!
 

  Twitter - Gene Mundt, Mortgage Originator   LinkedIn Account of Gene Mundt, Mortgage Lender   Facebook Acct. of Gene Mundt, Mortgage Lender   Pinterest Acct. of Gene Mundt, Mortgage Lender   
      Gene's Chicagoland Blog/Gene Mundt, Mortgage Lender 

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 Always Appreciated and Welcomed!





Comments

Popular posts from this blog

Property Addresses: Gettin' Down to the Nitty Gritty

Property Addresses:   Gettin' Down to the Nitty Gritty

Take just a second and read through the following statements ...


“The devil is in the details” 
... "in life, it is often the tiny details that end up 
being the most important"

"Get Down To The Nitty Gritty"

“Little details have special talents in 
creating big problems!” 

“Sweat the details”

"Success is the sum of details"

Details ...Details ... it's all about the details ...
     And I'll admit it, I'm a bit of a nerd about them.  My whole family is.  Details, the intricacies, the little things ... they matter to us.
When I was growing up, a typical conversation (and argument) between my brothers and myself at the dinner table or in the backyard centered around "details".  It didn't matter what the topic was, it was the minor differences ... the details about the topic ... that we argued about.  I'm sure we drove our parents crazy.  
Sports statistics and games ... minutiae rega…

Ready for Fall? It's Arriving Soon

Ready for Fall?  It's Arriving Soon

Friend ...

Maybe it's because football season has started. Maybe it's the kids being back in school. Or because the night air is cooler. But a sense of Fall has arrived here in Chicagoland ...

The Fall Season brings changes with it. Changes in temperatures. Changes to the clothing we wear. Our focus seems to shift with the coming of shorter days, falling leaves, and crisp air.

Fall can be the perfect time to do a multitude of things. You can prep your home for the upcoming winter weather ... or for Fall listing and sale. 

But whether you're moving on or staying put, Fall is a great time to declutter and organize your home inside and out ... and your finances too.

I've googled like crazy to find interesting articles filled with Fall info, ideas, tips, and photos. Articles that will help you usher the Fall Season in at your house. I hope you enjoy reading the articles offered below and that they inspire you to make any needed changes.

Rem…

Paper or Paperless billing? Which serves YOUR needs best?

Paper or Paperless billing?  Which serves YOUR needs best?


These days, companies are under pressure to go "green" and become more environmentally friendly.  As a result, an increasing number of businesses are offering their customers a paperless option with which to receive and pay their bills. 

There are obviously many positives to be found within these paperless services:


Trees are saved  Reduced postage costs  Less paper documentation to organize or save/storePossible rewards for switching to paperlessPayments can often be made/posted same-dayAutomated payments can be set-upMore
But I can tell you from my vantage point as a Chicagoland/IL/WI Mortgage Originator, there are also negatives to be found within paperless methods.  For some of my mortgage clients, the choice of going "paperless" just hasn't worked well.

 For some, an email or text reminder regarding payment of bills has not been enough. They NEED a paper billing to arrive in their mail. 

Their paper bil…