BY KEN TYSIAC
Many children aren’t learning much about money from their parents, a new survey shows.
Three in 10 parents never talk to their children about money or have had just one big talk with their children on the subject, according to a U.S. telephone survey conducted for the AICPA by Harris Interactive.
On average, children are 10 years old when their mother or father has their first conversation with them about money, and mothers are more likely to talk with children about money at an earlier age than fathers, the survey showed. Just 13% of parents surveyed talk daily with their children about financial matters.
Sixty-seven percent of parents surveyed strongly agree that they know enough about personal finance to teach their children good habits. Yet parents participating in the survey were more likely to have talked to their children about other important topics, including:
- The importance of good manners (95%).
- The benefits of good eating habits (87%).
- The importance of getting good grades (87%).
- The dangers of drugs and alcohol (84%).
- The risks of smoking (82%)
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