Like the ABCs and the golden rule, financial responsibility should be something instilled in children early and often. Research shows young people determine their attitude about handling money by the time they finish fifth grade. But where do you start? Busey’s MoneySmart Youth program was created to help kids ages 5 to 10 learn the importance of money.
Through video lessons and interactive worksheets, MoneySmart Youth educates children on important financial topics including: Understanding Money; Priorities; Smart Ways to Spend, Donate & Invest; and Taxes & Credit.
Establishing healthy spending and saving habits as a child greatly influences the potential for successful financial management as an adult. It’s never too early to start—and the learning never stops!
Learning at Any Age
While it’s important for children to become MoneySmart Youth, financial literacy lessons can be learned at any age. America Saves Week encourages consumers to automatically save money, reduce spending and build wealth.
In celebration of America Saves Week, Busey reminds consumers to prepare for the unexpected. According to a survey from Bankrate, 26 percent of Americans don’t have any emergency savings and 24 percent don’t have enough savings to cover three months’ of expenses.
Busey provides 3 Steps to Savings Success:
1) Figure out how much you need. Experts recommend saving enough money to cover three to dix months’ worth of expenses.
2) Automate. Ensure money is saved every time through setting up direct deposit to your savings account, or link your checking and saving accounts together and establish automated transfers between accounts.
3) Use it only for emergencies. For example, job loss, health expenses or an accident.
At Busey, we are dedicated to providing support and resources to help you achieve your financial goals—whether it’s establishing an emergency fund or saving for your child’s education or your own retirement. Visit any Busey location, call 1.800.67 | Busey or visit busey.com today.