Women Today

Deb Bruflat, Appleton West branch manager for Citizens Bank, presents the Financial Tip of the Week:

Every parent and child knows the day will come. The day when the child leaves their parents’ financial support system and declares their own financial independence. Some are ready for the responsibility while others are not. But how do you know? How do you know when it’s the right time to buy a car, buy a house or to start saving for retirement? Everyone’s financial situation is different and your personal income will help determine how you make these decisions.

With the newest generation of graduates leaving the nest, there are a few things twenty-somethings need to consider:

--Save money now because it’s never too soon to start saving. The easiest way to start saving is to create a realistic budget and stick to it.

--Build your credit by controlling your spending and by paying your bills on time.

--If you’re renting, know when it’s the right time to buy a home. Real estate can be a valuable asset. However, if you’re not financially ready to purchase a home, it can be a costly mistake. Everyone wants to be financially independent. The fact is, some are ready to pay a mortgage or buy a car and others are not.

If you’re uncomfortable with your own financial situation or need a little help sorting things out, remember your local banker is always there to assist you.