How do you think your kids feel about your family’s finances? Well. T. Rowe Price did an survey that had some interesting results. Here were the results:
82% of parents said they think they are setting a good financial example for their children. But only 46% of kids say their parents are doing extremely or very well at teaching them about money and finances. Further, 72% of parents say they are at least somewhat reluctant to talk to their kids about financial matters. They are concerned that their kids will worry. Yet, 61% of the children surveyed, who were ages 8 to 14, said their parents worry about money.
Just remember one thing – What we don’t teach our kids about money, the world will do it for us.
For some great tips on money talk with your kids, check out this article in this month’s Kiplinger Magazine.