Take
a look at the statistics below:
· In a recent National Financial Capabilities study, only 24% of
Millennials (ages 23-35) were able to answer the first three financial literacy
questions correctly and a mere 8% answered them all correctly.
The following stats all come from the 2016 T.
Rowe Price report
80% of parents didn’t think schools were doing enough to
teach kids about financial matters-
69% of parents are very/extremely concerned about setting a
good financial example for their kids
-
80%
of parents feel that they are
setting a good financial example, but then 66% also admit to doing things that
wouldn’t qualify as setting a good example
-
40%
of parents admitted that when it comes to talking to their kids
about finances, it’s "do as I say, not as I do."
-
49%
of parents said they rarely or
never discuss family finances with their children
-
18%
of parents admitted to being very/extremely reluctant to discuss
financial matters with their kids
-
72%
of parents experience at least
some reluctance to having such a discussion
If any of the above seems statements feel true for you, then be aware that you are far from alone.
Keep an eye out over the next few days as we take you through some key elements that yo can use
to teach you kids more about money.
