We Make Life… More Resilient

Hello from your favorite guest blogger, Mommy Money. We have made it to December, and the year is quickly coming to a close. For parents who recently sent their children off to college, this may be their first return home for winter break. I have been there…wandering the house and looking into unoccupied rooms, missing the angsty teen chaos. The only time you hear from them now is when they need money or they are in complete emotional breakdown mode. After having three girls in college, I saw a consistent theme their first year. They struggled between, “I’m too old for you to tell me what to do,” vs. “I’m too young to be adulting just yet.”

Addressing Money Matters

Young adults in new financial situations need guidance. Start by teaching them what to do with their first paychecks: save a percentage and don’t spend more than you make. You teach them how to be responsible, using a debit card, and making a budget. Once they’re away, all you can do is hope you have prepared them well. Inevitably they will call with an emergency. Here are tools you can use when that call comes:

• Find a branch – Members can conduct routine transactions such as deposits, withdrawals, and loan payments in all 50 states. You can find a shared branch near you at https://co-opcreditunions.org/locator/.
• Transfer money – You can transfer money instantly from one We Florida Financial account to another. Access transfer options in online banking or via the mobile app.
• Zelle – Within online banking you can use Zelle to move money quickly, often within minutes, between accounts at the same or different institutions. Zelle can help with splitting the rent, groceries, or event costs with roommates and friends.
• Bill Pay – Scheduling recurring payments for rent, utilities, or tuition is easy with bill pay. These secure and trackable payments are initiated through online banking. Payments are sent directly from the credit union to the biller, reducing the risk of missed or lost payments.
• Debit cards – Debit cards provide direct access to funds, linked to checking accounts for easy spending. They are widely accepted and can be used for in-person and online purchases. Debit cards are safer than cash and can be locked or replaced if lost or stolen.

Practical Money Advice

Not all college experiences start on the right foot. There may be misunderstandings, unrecognizable emotions, and pushing boundaries, which can cause uncomfortable disagreements over money. Some tips that got us through the tough times are:

• Create spending budgets – You want to know where their money is being spent. Have a conversation about what is getting in the way of your child stretching their available dollars. Then, create a process that can help. We have done things like creating envelopes to divvy up the spending money and transferring money in or out to control spending.
• Talk about the difference between “needs” and “wants” – Needs are things you must have to survive and function day-to-day. Wants are things that improve your comfort, enjoyment, or status - but you can live without them. Examples:

• Finally, hold back judgment and avoid saying “I told you so.” – Young adults are bound to make mistakes and sometimes poor decisions; that’s part of growing up. Not every choice they make will be wrong, and your advice may not always be spot-on, either. What matters most is keeping the lines of communication open. Talking through challenges and exploring solutions together can help prevent arguments and reduce tension.

It's About Family

Life will always throw unexpected challenges your way. What truly matters is that, when the holidays come and you're counting your blessings, you can count your family as the greatest blessing of all. Navigating tough times requires grace, patience, understanding, and plenty of open communication. And remember, it’s okay to ask for help when you need it. While we can’t prevent every bump in the road, your credit union is here to support your financial resilience.

Wishing you a restful and joyful holiday filled with good company, great food, and moments of gratitude. Happy Holidays and New Year!