Tag: Life Stage: Parent

Whether you’re recently expecting, or are expecting your kids to leave the nest soon, you have special financial considerations. Check out these tips for preparing your children (and yourself) for financial wellness.

College Student

Positioning Your Income/Assets to Enhance Financial Aid Eligibility

ASK A FINANCIAL PLANNER   What Does it Mean to Enhance Your Financial Aid Eligibility? If you qualify for federal financial aid, there are a number of strategies you can try to implement to enhance the amount of aid your child will receive when you apply for financial aid. The idea is to lower your… Read more »

Student Financial Aid

Are There Any Assets Not Counted for Financial Aid Purposes?

ASK A FINANCIAL PLANNER Yes, assuming you are talking about federal financial aid. Under the federal government’s financial aid formula, four main types of assets are excluded from consideration when determining your child’s financial need: All retirement accounts (e.g., IRAs, 401(k)s, 403(b)s) Home equity in a primary residence Annuities Cash value life insurance These assets… Read more »

Back to school

Tips for Tackling Back-to-School Shopping

Back to school shopping season is already here, and experts are predicting spending to increase this year. Preparing for the new academic year doesn’t have to break the bank. Plus, involving your child in planning and budgeting is a great way to teach them about money through example. Here are 5 tips for tackling back-to-school… Read more »

Student Loans

Federal Student Loan Interest Rates Set to Increase for 2021-2022

ASK A FINANCIAL PLANNER After two years of decreases, interest rates on federal student loans are set to increase almost a full percentage point for the 2021-2022 school year.1 The interest rates on federal student loans are reset each year after the May auction of the 10-year Treasury note. The rates apply to new federal student… Read more »

Federal Student Loans

Federal Student Loans FAQ

ASK A FINANCIAL PLANNER   What Are Federal Student Loans? Federal student loans are loans established by the federal government and provided to students for college and graduate school. Who Can Get a Federal Student Loan? There are eligibility requirements for federal student loans. If you have any questions about eligibility, contact the financial aid… Read more »

Recent Grads

SESLOC Resources for Recent Grads

Whether you’re moving on to higher education or launching your career, SESLOC offers financial resources to help you along your journey: The Credit Union Difference While many banks offer free student checking to young adults, the minute you age out of the account you may be subject to fees and account balance minimums. Your SESLOC… Read more »

Blog header — tax season

Enhanced Child Tax Credit for 2021

Update July 14, 2021 — The first round of advance payments are expected to go out July 15. If you have qualifying children under the age of 18, you may be able to claim a child tax credit. (You may also be able to claim a partial credit for certain other dependents who are not… Read more »

Lifestyle Creep

Beware of Lifestyle Creep

Lifestyle creep, or lifestyle inflation, happens to the best of us. As your standard of living improves, your non-essential discretionary purchases gradually increase. You might even start to think your “wants” are “needs.” Some creep is natural and to be expected, but excessive creep can derail your finances. In extreme cases, lifestyle creep forces you… Read more »

Comparison

Singing the Comparison Blues is the Theft of Joy (and Your Savings)

Do you use others for the barometer of what you should have or deserve to have? Constant exposure to your friends’ vacations, experiences, dining out, luxury purchases, new cars, and house upgrades on social media amplifies “FOMO (fear of missing out)” and the desire to “keep up with the Jones’s.” Overtime, the idea of what’s… Read more »

I'm a Credit Union Saver

I’m a Credit Union Saver — Youth Activity & Coloring Book

Download I’m a Credit Union Saver, a fun activity book filled with coloring pages, puzzles, and more!  I’m a Credit Union Saver is an introduction to credit unions and saving money. Check out more fun online tools to teach kids about money.