Nearly half of recent high school grads say they are unsure how to manage their own banking or personal finances, according to a survey by Capital One. Now for the good news: the survey also found that money is one topic where parental advice can actually get through to teens. Among the students who said they have frequent conversations about money with their parents, 81 percent feel prepared to handle their banking and personal finances.
Our kids are still really young (6, 4, and 2), but we’re talking with them about money more and more, at least the older two. This weekend, with a little coaching, they struck a hard bargain at a neighborhood garage sale, scoring new toy airplanes for 25 cents each. How often do you talk with your kids about money?
Sounds like I’m going to need to read your book! I’m always looking for good books on teaching kids about money to recommend.
Hi Matt…funny that you’re talking about talking to your kids about money. It’s one of the three keys in my book, The Ultimate Allowance book that I wrote for parents. The other two keys are first to set the best example possible and third to give your kids lots of practice with money. After all, it’s hard to get good at anything if you don’t ever get to practice. Thanks, Elisabeth