My family and I spent the first weekend of June at the family farm near Clear Lake, Iowa. To our surprise, nestled within a hose reel on the side of the machine shop, we discovered a bird’s nest with two tiny chicks and their mother. The next day, something remarkable happened — both baby birds leapt from the nest just moments apart. There was no sign of the mother at first, but the little ones seemed undeterred by the fall. They instinctively began flapping their wings and running in opposite directions. Not long after, their mom showed up with a worm in her beak, calmly herding them to the edge of the field, away from curious onlookers. We lost sight of them after that, but I imagine they didn’t stay grounded for long.
The moment reminded me so much of what many families have just experienced: high school graduation season. From the ceremonies and celebrations to the emotional rollercoaster of pride, joy, and the quiet ache of letting go — it’s a season of transitions. Whether your graduate is heading off to college, starting their first job, or moving into their first apartment, they’re taking their own leap from the nest.
As your graduate prepares for their next chapter, it’s worth asking: Are they ready to manage their own finances? You’ve prepared them in so many ways — emotionally, academically, socially — but now is the perfect time to set them up for financial success too. Here are three simple but important steps you can take with your child this summer.
- Set Up a Budget Together
Budgeting isn’t just for adults with mortgages. Even a simple monthly budget can make a big difference for a student or young professional. Sit down together and go over what money is coming in (whether that’s from a summer job, allowance, or financial aid) and what expenses are going out. Help them think through basics like food, rent, gas, subscriptions, and school supplies.
You don’t need to overcomplicate it — a notes app, spreadsheet, or free budgeting app like Mint or EveryDollar will do the job. The important thing is building the habit of tracking spending and saving regularly.
- Start an Emergency Fund
Life throws curveballs and having even a small emergency fund can be a lifesaver. Encourage your graduate to set aside $500 to $1,000 in a separate savings account they don’t touch unless it’s truly needed. Whether it’s unexpected car trouble or a surprise textbook expense, they’ll be glad to have that safety net. It’s also a great time to talk about the importance of building the habit of saving, even if it’s just $20 a week.
- Talk About Credit
Many young adults get their first credit card shortly after graduation, and how they use it can impact their financial future for years. Talk with them about how credit cards work, why it’s important to pay off the full balance each month, and what a credit score means.
If they’re ready, you might even help them open their first student credit card to start building responsible credit history.
These next few months are going to fly by. While you're helping them pack, shop for dorm gear, or furnish their first apartment, don’t forget to have a few conversations about money. It’s one of the best gifts you can give them before they take off.
And if you’d like us to help with that part, we’ve created something just for them. Our Financial Foundations course is designed specifically for young adults heading out on their own. It’s a two-part class held multiple times each year, and it covers everything from budgeting to credit to smart saving strategies and more. Give us a call at (515) 225-6000 or visit us online for more information.
Let’s make sure your graduate isn’t just ready to leave the nest — but ready to soar!
