I was in the midst of my daily scroll on LinkedIn when I stumbled across a review for a financial coach. The review struck a chord with me because it was written by a woman who looked to be around the same age as me, and she had achieved exactly what I was looking for – financial freedom and stability. The business she reviewed had a catchy tagline and creative logo, so I clicked on the website link. Little did I know, I was about to embark on a life-changing financial empowerment journey.

As is the case with most accidentally stumbled-upon internet gems, it was everything I never knew I needed and more. The sleek graphic design captured me, but the services and tools being offered kept me. It felt like they were specifically designed for me, and, in fact, they actually were.

The business was created by a woman in her mid-30s (like myself) with the intent of empowering other women to achieve their financial goals through personalized budgets and coaching, all while leading a healthy and fashionable lifestyle. I could be financially savvy and fashionable? I was sold!

I desperately needed her services in my life. I recently purchased my first home, so my need for financial stability and security is greater than ever. I no longer have the renter's safety net where if everything goes to hell, I can just move in with a friend. Things in my life have gotten real very quickly. I now have a mortgage, taxes and the random broken appliance in the middle of winter. If hitting 30 years old didn't make me feel like an adult, signing on the dotted line for my first mortgage certainly did.

With all this in mind, I sent an email to the address on the financial coach's website to learn more. To my surprise, I got a response a few hours later. We set up a free consultation for 7:00 p.m. that night and she called at 7:00 p.m. on the dot. This type of responsiveness and timeliness was music to my Type A ears. I was almost sold before the call even began.

During the call, we discussed my financial goals and which products and services would be best for me. We landed on having her develop a monthly budget for me and doing weekly phone check-in sessions, during which we'd discuss what I spent that week as well as my financial hurdles and goals for the upcoming weeks and months. She also sent me a budget tracker in the form of an Excel spreadsheet. My budget is separated into columns – housing, transportation, food, etc. – and I have to enter in every cent I spend, all while making sure I don't go over the allotted budget, which is displayed at the top of each column.

It's nearly five weeks into the process, and I've quickly learned I spend a ridiculous amount of money on food. Those $4 soy chai lattes add up quickly.

However, it's no longer a mystery where the majority of my money goes – to food! The simple act of having to input everything I purchase, big and small, is in itself a spending deterrent. Before every purchase I make, I now look at my budget tracker and see how much I have allotted for the rest of the month. If I do spend the money (and if it's a lot), I contemplate how I will explain the purchase to my budget coach.

This whole process is an exercise in accountability. I'm getting better and separating wants from needs. I'm less stressed about money because I have a very specific plan as to how I'll meet my financial goals, and now I always know how much money I have left to spend each month. The whole process has been a game changer for my financial life – current and future.

Admittedly, I didn't find this service at a credit union, but it's the exact type of thing that credit unions should capitalize on. I'm 34 years old, and like many of my friends, we're out of the financial starvation of our 20s. My demographic (hard-working, millennial college graduates with student loan debt) presents a great opportunity for credit unions.

We finally have a little money in the bank and we're looking to possibly purchase our first home or refinance student loan debt.

An article in Financial Advisor Magazine said, “This year, millennials became the largest segment of the labor force with 53.5 million employed individuals – around one-third of the total. These numbers matter because age can be a wedge between financial advisors and their potential clients. The average age of an advisor is 57 years, while millennials' average age is closer to 27.”

The potential membership base exists; it's just a matter of tapping into the market. I personally think anyone can advise my generation – they don't need to be someone my age. The key is reaching my generation, relating to them and using the right method to advise. For me, it was a review on LinkedIn that caught my attention, but what kept me was the responsiveness and personalized service. I like weekly check-ins and the understanding of my need to travel while living a fashionable yet affordable lifestyle. These things matter – even if they don't matter to the person advising. Tailor your products and services to accommodate specific demographics. What may work for a person in their 50s may not work for a person in their 30s.

I encourage credit unions to think outside of the box – just like my generation has been doing for years.

Stay tuned for updates on my financial journey and more tips on reaching millennials.

Tahira Hayes is a Correspondent-at-Large for CU Times. She can be reached at thayes@cutimes.com.

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Capitalizing on Millennials&rsquo; Financial Planning Needs

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