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Columbia bank holds ‘adulting’ classes for millennials

April 7, 2018

COLUMBIA, Mo. (AP) — A Columbia bank is hosting a series of “adulting” classes for millennials to learn the ins and outs of grown-up responsibilities, such as buying a house or paying off credit card debt.

More than 30 millennials, between the ages of 20 and 35, attended a class on home ownership from mortgage specialists this week, the Columbia Missourian reported . It’s the Central Bank of Boone County’s latest offering in a series called “The Art of Adulting.”

The bank surveyed millennial staff and compiled seminars on topics that the generation often finds intimidating.

Registered nurse Katie Burton, 30, has attended two of the bank’s classes on investing and debt management.

“After the class I was paying more attention to where my 401(k) money was being invested and became more involved in investing in companies I wanted,” Burton said. “I also became more aware of putting more money into my retirement as well.”

Matt Meyer, one of the bank’s mortgage loan officers, said he sees up to five customers a month that fall into the millennial category.

“I have people that come in who are knowledgeable about their financial situation and conservative in nature and apprehensive to take the next step to buying a home,” Meyer said. “Then I have other people come in thinking they can afford a $300,000 house when, really, their financial situation won’t allow it.”

He said that most of his millennial clients are actively educating themselves about finances, which he has also taken notice to in the seminars.

“I expected a lot of people to have really basic questions,” he said. “Everyone seemed to understand the basics and asked more in-depth questions.”

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Information from: Columbia Missourian, http://www.columbiamissourian.com

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