Build Good Money Habits

by Chelsie Moore, COUNTRY Financial Director, Wealth Management & Financial Planning,

Many people learn about money – how to spend and how to save – from their parents.  Even if they didn’t talk about finances, their parents modeled paying bills, spending and preparing for the future.  Chelsie Moore, COUNTRY Financial Director, Wealth Management & Financial Planning, provides her perspective on building positive financial habits in kids.

  • Start early – Just like you can take advantage of compounding interest in your savings plans, find opportunities to develop savings habits with very young children. Recently, my four-year-old daughter asked if we could take her piggy bank to the bank. We made it a really big deal for her, got ice cream afterwards and celebrated it. She likes to check her account online, even though she doesn’t quite understand the difference between a dollar and a penny yet. 
  • Work hard – I want my kids to have a good work ethic and love what they do.  I grew up with very hardworking parents. My dad has put a ton of sweat equity into his job and showed me you have to work hard for what you want. My mom is passionate about her work in special education. The energy and fulfillment she gets from her job is what many can only hope for. She’s taught me the importance of prioritizing your passion with what you do every day. 
  • Set goals – Of course with my profession, I want my kids to understand how to set goals and build a path to achieve them.  My parents took a "set and forget" approach to preparing for their future. For many, this approach can help you not make an emotionally-driven mistake and establish a disciplined approach to long-term saving.

If you have a savings goal you or your child would like to achieve, use our savings goals calculator to map out a plan. 

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COUNTRY Financial® is the marketing name for the COUNTRY Financial family of affiliated companies (collectively, COUNTRY), which include COUNTRY Life Insurance Company®, COUNTRY Mutual Insurance Company®, and their respective subsidiaries, located in Bloomington, Illinois.