Interesting but worrisome survey from T. Rowe Price “Parents, Kids & Money Survey” 2013 The survey set out to understand the basic financial knowledge, attitudes and behaviours of both parents and their children age 8-14 . The survey included 1.014 parents and 839 children in the US. The study was quite comprehensive..but we will share 3 with you here
The complete study can be found here
And…Where do family conversations on money fit with everything else there is to talk to our kids about?
Interesting but more worrying.. 50% or less of parents surveyed have strong financial habits to pass along to their children. Notably: Only 46% had life insurance. While 46% are saving for a family vacation & 39% save throughout the year for holiday shopping; only 26% have an up-to-date will.
Get a will! We’ll be reminding you to get one …along the way with LegacyTracker.
And also? Let’s work on some of these basics so we as parents can pass them along to our children.