Just in time for families to plan their holiday budgets, COUNTRY Financial® has released the results of its new Security Index Survey* on financial literacy and confidence. The survey found that personal finance may be a taboo topic in most American households, with more than a quarter of parents (27 percent) admitting that they have not talked to their kids about money.
Interestingly, the holiday season is an ideal time for parents to share important financial lessons with their kids for the gift-giving season. It’s also an equally important time for partners to have good communication about holiday budgeting and spending.
This doesn’t mean it’s easy, however – most parents say they would rather go to the dentist (39 percent), talk about the birds and the bees (36 percent) or pay a speeding ticket (6 percent) than talk about finances with their children.
Join me in a recent interview with Finance Expert, Tim Harris, as he shares tips for parents when preparing to talk with their kids and spouses about spending this holiday season and more:
- Candid Conversations – Talk about money, even if it’s uncomfortable. Don’t let money become a taboo topic in your home.
- Holiday Budget 101 – Create your holiday budget as soon as possible, with the help of your family. Involving your kids and partner means everyone has a part in staying on budget and everyone understands the plan.
- Start the Savings – For Next Season – If you found that your budget was tight this year and you wished you had saved more, consider setting up a holiday savings account that allows you to save throughout the year.
See the entire interview here:
For more information, go to www.countryfinancial.com.
About Tim Harris
Tim Harris joined COUNTRY Financial in 1992 and has served as the executive vice president of Agency for COUNTRY Financial since June 2019. In his position, Harris is responsible for the field sales force (Agency) and Agency Operations.
Interview provided by: COUNTRY Financial
*The COUNTRY Financial Security Index was created by COUNTRY Financial and is compiled by Ipsos an independent research firm. Surveys were conducted using Ipsos’ KnowledgePanel®, a national, probability-based panel designed to be representative of the general population and includes responses from approximately 1,025 U.S. adults for national surveys. The margin of sampling error for a survey based on this many interviews is approximately +/- 3 percentage points with a 95 percent level of confidence.
