I know I don’t know

Long ago I reconciled with myself the fact that I don’t know everything. When we’re younger a lot of us believe we do, but at some point reality comes crashing in and the light of truth shines right in your face.

That’s ok.

Conversely, there is a lot I do know and what I know, I know well. And that’s ok. I know you know a lot and you know some things that I don’t know. And that’s ok too. Then there are times when nobody knows anything and we’re all looking around at each other trying to figure things out. And ya know what? That’s ok too, because we all know stuff, we’ve all had different experiences that created that knowledge, and that means we can all help one another at some point.

We can all be patient with one another as we learn, exchange ideas, think things through and work together on a common goal or purpose. They say knowledge is power and while that may be true, I think the sharing of whatever knowledge we have or can gain is the real power.

That’s why I talk about teamwork so much. That’s why I talk about collaboration and ideas coming from everywhere and anyone. The free flow of ideas, the exchange of varying opinions, the sharing of experiences all create a stronger bond and greater success. Finally, I also know that knowing doesn’t mean being right. We may know something and learn what we know wasn’t correct or that our idea isn’t the best one at a given moment. That does not mean the input was unimportant. Even in those instances, there is knowledge to be gained and cultivated.

7 Ways to Celebrate Earth Day at Home

Plant a garden. Earth Day, April 22, is the perfect time to plant that garden you’ve always wanted. Garden centers and home improvement stores are still open around the country, with many offering curbside pickup. Add a burst of color to your property with a row of flowers, try your hand at planting a vegetable garden, or plant a tree!
Learn about recycling. Celebrate Earth Day by learning about local recycling rules and refreshing your knowledge about what happens to the things we recycle. Share this information with your children as they are learning from home.
Use the My Disney Experience app to explore the world of nature from home. Check out the “Wilderness Explorers at Home” feature on the app for a virtual tour of nature’s wonders.
Learn about the plants in your neighborhood. Bring your daily walk around the neighborhood up a notch on Earth Day by looking out for plants in your area. You can use the Native Plant Finder website to find out which plants are native to your zip code. See how many of these plants you can find on your walk!
Watch a documentary about our planet. Celebrate Earth Day by watching a fascinating documentary about the Earth. Netflix is now running “Our Planet,” an incredible docuseries hosted by David Attenborough that features beautiful footage from around the world. You can also check out Disney+ for DisneyNature’s “Elephant” and “Dolphin Reef,” which conveniently offer downloadable activity packets for kids.
Watch the NASA Science Live webcast. The space agency website will host a special online events on Earth Day, April 22. To participate: https://go.nasa.gov/EarthDayEvent2022
Join the Earthfest. The American Museum of Natural History (AMNH) in New York City is airing an all-day “Earthfest” on Friday. The live-streamed event will feature a full day of activities and education, check out the day’s activities at https://www.amnh.org/calendar/earthfest.

Your Turn: Tell us how you’re celebrating Earth Day on Facebook, Twitter or Instagram! @FreedomFedCU

Should I Offer Financial Support to my Adult Child?

Q: My adult child is going through some financial difficulties. I’d love to help them out of this tight spot, but I’m wondering if this is a wise choice. Should I offer financial support to my adult child?

A: In recent years, newly minted adults have become more dependent on their parents. According to a report by Merrill, more than three-quarters of parents in the U.S. provide financial support to their adult children. This includes allowing their kids to live at home, covering student loan bills, paying for their phone/data plans and more. This development is likely due to high amounts of student loan debt, low starting salaries and the increasing cost of housing. All of these factors, and more, make finances especially challenging for many young adults. Of course, parents will naturally want what’s best for their children, so they are often quick to offer financial assistance. However, as you mention, all this begs the question: Is offering financial assistance to adult children really in their best interest? There’s no one-size-fits-all answer to this loaded question. In fact, the answer will depend on several factors, as well as your relationship with your child.

Before saying yes to a request for financial support from an adult child, ask yourself these questions:

Is my own financial situation stable right now?
Before offering substantial support to another person, even if that person is your child, you need to make sure your own needs are being met and that your future is secure. Are you finishing the month with money to spare, or barely making it to the next payday? Are you financially prepared for retirement? Do you have any outstanding debt? If you are comfortable enough to offer support without feeling pinched, dipping into savings or scrimping on the money you’d dedicate toward your own future security, you can afford to offer this assistance. However, if you stand to lose your own financial wellness by covering your child’s bills or student loan payments, you won’t be doing anyone a favor by offering to support your child.

Is my child’s situation by default temporary?
Life is dynamic, which means your child’s need for assistance today can change tomorrow by way of a fantastic job offer or another great opportunity. Or can it? At times, your adult kid might find themselves in a tight spot that is inherently temporary. For example, they may be completing a necessary, but unpaid, internship. Or, they may have gone back to school for additional training so they can increase their earning potential. Perhaps they’re currently undergoing medical treatment and have high medical bills to pay. Under these circumstances, you may want to consider offering a bit of support until the temporary tight spot is over. If, however, your child is asking for financial support because they are living a lifestyle that is beyond their means, you may want to think twice before acquiescing to their request.

Will offering financial support hinder my child’s financial independence?
One of the biggest drawbacks of offering monetary assistance to a grown child is the possibility that your child will come to depend on that money. If your child has not yet learned to manage their finances responsibly and continues to make poor money choices, offering financial assistance is likely not in their best interest. You won’t be around forever, and it’s best to let your child learn how to spend within their budget, save for the future and in general, to live responsibly.

How will my financial support affect my relationship with this child?
Giving breeds positive feelings, and many people believe that offering monetary support to their child will improve their relationship with him or her. However, it’s important to note that this is not always the case. First, the child may come to equate the relationship with the exchange of funds. Also, when you decide to stop offering support, this can create a point of tension between you and your child. Finally, if you can afford to give, but you know this giving will be accompanied by resentment on your part, it’s not fair to yourself, or to your child, to provide financial support.

How will I structure my financial support?
If you decide to go ahead and offer financial support to your child, it’s important to set clear guidelines for how you will be providing this assistance. Will you offer a set monthly amount, or adopt a give-as-needed approach? Will you expect your child to pay you back, even partially, when their financial situation improves? Finally, is there a date you plan to stop offering assistance or to reevaluate whether your child still needs this support? Setting clear parameters before offering support can help you avoid hurt feelings and uncomfortable situations down the line.

Offering financial support to an adult child can be a lifeline–or it can be a way to enable detrimental habits. Be sure to ask yourself the questions listed above and to make an informed decision before offering monetary assistance to a grown child.

About Freedom Federal Credit Union
Freedom serves and is open to anyone who lives, works, worships, attends school, volunteers, or has family in Harford or Baltimore County, MD. As a credit union, we are committed to putting you first, not shareholders, and helping you achieve your financial goals. Learn more at freedomfcu.org or call 800-440-4120 to see how we can help.

Your Turn: Do you (or would you) offer financial support to your adult child(ren)? Tell us about it on Facebook, LinkedIn, Twitter, or Instagram @FreedomFedCU. #parentingadultchildren