Table of Contents
5 Easy Tips for Raising Financially Savvy Kids
5 Easy Tips for Raising Financially Savvy Kids
Helping kids build smart money habits early can make a huge impact later, especially when it comes to big milestones. Children as young as three can begin understanding the basics of money and by seven, many can already have lasting money habits.
Here are five easy, practical ways to raise money-smart kids:
- Model Healthy Financial Behavior: Kids learn by example so talking openly about saving, spending, and giving helps build financial literacy.
- Use Visual Tools: Label three clear jars: Save, Spend, and Share. When kids receive money, like an allowance or gift, they divide it between the jars. This can help young kids learn how to budget in a way they can see.
- Teach “Wants” vs “Needs” Early: Use real-life situations to help kids distinguish between what they need and what they simply want. It’s a foundational concept for smart spending.
- Allow Room for Small Mistakes: If they blow their allowance on candy and can’t afford the toy they wanted, that’s a great learning lesson about choices, consequences, and delayed gratification
- Use Everyday Opportunities: Involve your kids in age-appropriate financial decisions like comparing prices at the grocery store or planning for a family vacation.
At the end of the day, these small steps build real financial confidence and that kind of foundation is key for future homeowners.1
Rates Are Gently Drifting Down – What Does That Mean for You?
We’ve finally seen mortgage rates slide, which are now sitting at 6.77% for a 30-year fixed, the lowest they’ve been since May. While this isn’t a huge drop, it’s a promising sign for buyers and homeowners keeping a close eye on affordability. This recent dip comes as global tensions ease and financial markets adjust, including falling Treasury yields. Rates are still hovering in the high-6% range, and paired with today’s home prices, that continues to put some pressure on buyers. While pending home sales rose slightly in May, new home sales saw a steep drop which is likely a reflection of continued affordability challenges. If you’re thinking about buying or refinancing, it’s still a great time to keep a close eye on the market and get pre-approved, so you’re ready to move when the time is right. Some forecasters are expecting a slow but steady decline in rates through the end of the year. If you have questions about what this means for your home goals, I’m always here to help break it down! 2
Boost Your Home’s Value & Savings with Solar Power
Installing solar panels isn’t just good for the planet, it’s also smart for your wallet. Solar can lower your energy bills, increase your home’s value, and may help your property sell faster. Plus, with programs like Hoper Solar, qualified buyers can get up to 3.5% in assistance toward their down payment or closing costs. Add in the tax credits and monthly energy savings, and going solar becomes a smart, long-term win for your finances. Let’s talk about how solar fits into your homebuying plan! 3
More Sellers Than Buyers for the First Time in Years
The housing market has shifted. There are nearly 500,000 more home sellers than buyers, the biggest gap since 2013. In April, 1.9 million sellers were active, compared to just 1.5 million buyers. This trend may give buyers more leverage, especially in big cities where seller competition is high. Condos, in particular, are struggling, with 83% more condo sellers than buyers nationwide. With more inventory and negotiable prices, buyers have a unique opportunity to shop with less pressure and more options. Sellers, on the other hand, need to price strategically and be prepared for longer days on market. If you’re thinking of making a move, this is a great time to explore your options. Let’s connect to get you pre-approved and strategize your next steps in this evolving market!4
Crypto Moving into the Mortgage World
In a major policy shift, the Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to begin treating certain cryptocurrency holdings as mortgage assets. This means that eligible borrowers could eventually use cryptocurrency to help qualify for a home loan. However, only digital assets held on U.S.-regulated, centralized exchanges will be considered, and Fannie Mae and Freddie Mac must implement safeguards to address the volatility of crypto before these changes take effect. This development reflects a broader trend of cryptocurrency becoming more integrated into mainstream personal finance. If you are a homeowner, buyer, or investor with digital assets, this could open new opportunities in the future.
Before making any significant investments in cryptocurrency, it is important to consult with me or a trusted financial advisor to ensure that it is a worthwhile and safe choice for your financial situation. Plus, I’m always happy to refer you to a trusted professional with knowledge in this area. It is also very important to be aware that crypto scams exist, so use reputable platforms and stay informed to protect your investments.5
Sources: 1 affcu.org; 2 nowbam.com; 3 rwmloans.com; 4 yahoofinance.com; 5 cnbc.com
