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Americans believe parents should be teaching their kids about money, though many aren’t themselves.

Apr 07 2022

Americans believe parents should be teaching their kids about money, though many aren’t themselves. YPulse’s personal finance and services research found that the majority of young consumers wish their parents had taught them more about managing finances, and a CNBC + Acorns survey found that while most believe that parents should be teaching children how to manage their finances at an early age, the majority of them aren’t. According to a Momentive survey, 83% of adults in the U.S. said parents are the “most responsible” for educating their kids on the topic. But only 15% of parents say they speak with their kids more than once a week about household finances, while 13% said they do so once a week and 16% said once a month. Meanwhile, some 24% talk to their kids less often and 31% never do. Those who earn less money and Black and Hispanic respondents were more likely to have money-related discussions. YPulse’s Self-Taught trend research found that about one-third of young people wish their schools taught personal finance—and more school districts are stepping in to help parents out by offering special courses. Meanwhile, The Council for Economic Education offers Family-At-Home Financial Fun Packs, Next Gen Personal Finance has online games and activities on topics like investing and budgeting, and the National Endowment for Financial Education has free online courses, activities, and quizzes for Millennial parents and their kids, so they can begin teaching them about money at a young age. (CNBC)