Question of the Day: At what age did most parents/guardians teach or plan to teach their children about personal finance?
Answer: Between the ages of 5-10 years old
- Have you had conversations with your parents/guardians about money?
- If yes, what have you discussed?
- What can make these conversations easy or difficult to have?
- Do you plan to discuss what you are learning in this course with a parent or guardian?
Marketplace recently had a feature with advice on talking to kids about money (3 minute audio)
Behind the numbers (From Survey: When Parents Plan to Start Teaching Their Kids About Money):
A recent MyBankTracker survey found that an overwhelming majority of parents (82.2%) taught or plan to teach their children about money and personal finance before the age of 18 while most parents (83.8%) want a personal finance class taught in school.
We write about the importance of parent conversations on the NGPF blog. Here's a few posts on the topic.
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
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