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Frankie and Alfredo explore the real costs of moving out and establishing independence, sharing their different experiences transitioning from living with parents to managing their own households.

• Hidden expenses beyond rent include utility deposits, application fees, and the surprising cost of groceries.
• First-time movers often underestimate how quickly food costs add up, especially when eating out!
• Creating an emergency fund is essential for unexpected expenses like car repairs.
• Furniture costs can be managed by shopping secondhand through Facebook Marketplace and thrift stores.
• Additional expenses include technology needs, internet, cell phone, auto insurance, and renter's insurance.
• Before moving out, create a "trial budget" and live by it for 2-3 months to test readiness.
• Premier America's Financial Wellness Center offers free rental counseling and personalized guidance

This week's family challenge: Older kids research and create a trial budget; younger kids design a dream room with real costs to understand needs versus wants.

Learn More at PremierAmerica.com/Youth

Federally Insured by NCUA.

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Tackling the daunting challenge of saving for college requires early planning, consistent effort, and understanding all available options. Frankie and Alfredo share their personal experiences and practical strategies to help families navigate the journey toward funding higher education.

• Average four-year college costs now approach $100,000 for in-state students including room and board.
• Personal savings, scholarships, and federal student aid form the foundation of college funding.
• 529 plans offer tax advantages and can be rolled into Roth IRAs if education plans change.
• Starting small with consistent contributions makes the large goal more manageable.
• Understanding student loans before taking them prevents post-graduation financial struggles.
• Even small sacrifices like skipping two lattes weekly can add $520 annually to college savings each year.
• Premier America Foundation offers scholarships annually to qualifying students

Weekly Family Challenge: Research a college or trade school you're interested in, determine its cost, and create a small, achievable saving goal to start working toward now.

Learn more at PremierAmerica.com/Youth

Federally Insured by NCUA.

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In our 17th episode, Frankie and Alfredo explore what makes a smart money choice and share their own practical strategies for families to build positive financial habits together. We discuss how thoughtful planning and avoiding impulse purchases can lead to better financial outcomes for both parents and children.

A few quick tips:

• Smart money choices involve having well-thought-out reasons for purchases rather than making impulse decisions.
• Creating shopping lists helps families avoid impulse buys, especially at strategic checkout areas in grocery stores.
• The three-jar system (save, spend, share) provides a visual approach to teaching children about money management.
• The 72-hour rule gives time to reconsider purchases and research better options before committing.
• Shopping when hungry can lead to unnecessary purchases and spending.
• Finding spare change around the house is a great way to start populating savings jars.

Learn more at PremierAmerica.com/Youth

Federally Insured by NCUA.