Goal setting at every life stage

That’s why Everence^® Federal Credit Union (EFCU) has many products and resources tailored for people at all life and financial stages. Whether you want to teach your child or freshen up on your knowledge, here are some ideas for learning money management skills.

Elementary School

At this early stage in life, children can learn about the importance of responsibility, working to earn money and how to save and spend money wisely. Here are some examples:

• Allowances can help kids learn the responsibility of chores and of working toward earning money.
• Leading by example, parents can take their kids shopping and teach them how to shop for less expensive items or using coupons. Kids can also learn the advantages of paying with either cash or credit cards that are paid off each month.
• It’s important for kids from a young age to learn about generosity and giving to others. A good practice is to encourage kids to set aside a percentage of their allowance for donating.

The EFCU Youth Rewards Program is tailored for families motivated to learn the concepts mentioned above, offering fun prizes for doing simple financial wellness and stewardship activities.

Middle School

This is a good life stage to start learning how to create spending plans, or budgets. You can help your kid create a spending plan, setting funds aside to pay for clothes, games or other goals. When appropriate, a teenager can get a job outside of the home to start establishing a work history.

Greenlight is a financial education app and debit card for kids and teens that allows parents to instantly send their kids money, set up chores and allowance, create savings goals and more. Members who register for Greenlight with a unique code and link an EFCU personal checking account will receive the Greenlight SELECT plan for free¹.

This is a good start for children in this age group, and a way transition them to a Student Checking Account when they’re ready.

High School

Teenagers who are able to take care of themselves are ready for new levels of responsibilities.

This is also a time to solidify concepts around money management. Everence Federal Credit Union has two options for helping your child build healthy financial habits:

Our new Student Checking account is tailored for people ages 13 and 22, and is built with flexibility and convenience in mind, with no required opening deposit and no monthly maintenance fees. Users have access to digital money management tools via mobile devices. Additionally, the account accrues interest when all program qualifications are met, allowing account holders to earn on their balances.

Adulthood

For adults wanting to learn about money management skills, the concepts previously mentioned are evergreen: anyone at any age can learn and master skills around earning, saving, spending and giving. Adults may need to start creating spending plans with other people in mind, like children or a spouse. Adults can make the most of their finances by meeting with an Everence staff member, who can provide personalized guidance on saving, investing, charitable giving, and retirement planning. Our EFCU Certified Credit Union Financial Counselors are available to help you get started—whether it's understanding your credit score, building a budget, or exploring ways to begin saving. When you're ready to take the next step toward investing and retirement, we can connect you with a trusted Everence financial consultant to help you plan with confidence.

Retirement

Retired members generally have fixed incomes, so goals and spending plans might change. Goal setting might start by members at this age thinking of their desired lifestyle and planning for how to cover it. In addition to planning for a desired lifestyle, retirees can also benefit from learning about transferring wealth, either to their family or through donations to causes they feel passionate about. Everence Financial has tools to help grow your capacity to give. We can connect you with an Everence financial consultant to learn more. 

Take the Next Step Toward Financial Confidence
No matter your age or stage in life, it’s never too early—or too late—to build strong money management habits. From teaching your child the value of saving to planning your retirement with purpose, Everence is here to support your journey.

- Explore youth programs like the Youth Rewards Program.
- Sign up for tools like Greenlight and the Student Checking Account.
- Connect with an EFCU Certified Credit Union Financial Counselor.
- Meet with an Everence Financial Consultant to plan for investing, giving, and retirement.

Ready to grow your financial knowledge and take control of your future? Visit everence.com/banking or stop by your local EFCU branch to get started today!