Helping out the kids

My 15 ½ year old son, Joe, has started cutting the grass more regularly. The key part of the sentence is 15 ½ year old because that means he’s not too far away from getting a driver’s license. And that means he’s thinking about a car which means he’s thinking about where he’s gonna get money from to pay for gas. And he’s wondering how much of the car he’s going to have to pay for if he gets his own set of wheels.

I’ve told him he can drive the 8 year old mini van all he wants but he’s not overly excited about that. Maybe it’s because I’ve also told him I was going to paint “Mom’s Taxi” in big pink letters on the side of the van.  So we’ve been negotiating the price per lawn cut, and he wants me to teach him how to use the electric edger so he can get a few more dollars per week.

Ten years or so from now, it might be a different conversation. It might be about how mom & dad are going to help with buying his first home. The mortgage lender LoanDepot recently completed a study and released a report that identifies a growing trend of parents helping their children purchase their first home.

What does this mean for Credit Unions wanting to be memberlicious?

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