Parents Want Their Kids To Be Financially Savvy, Survey Says

Our country is in deep debt. No doubt about it. The national debt crisis has been all over the headlines this summer. While it’s clear Washington can’t manage money, a new survey finds it’s an opportunity for parents to teach their kids about being financially savvy.

The survey asked parents what financial topics are most important for children to learn. Here’s what they said:

  • 81% Basics of a savings account
  • 76% Being frugal, such as bargain hunting and saving money
  • 73% Creating budgets
  • 32% Making investments
Parents also shared the biggest financial lessons they wish they had learned when they were young. They included:
  • Always be prepared for unexpected expenses.
  • Debt is bad and should be paid off early.
  • Take credit seriously; it’s not just free money.
  • Start saving for retirement at a much younger age.
  • Better understanding of how students loans work.
I have two boys now in college, and the other in high school. I’m constantly reminding them of many of these money lessons, including the financial moves and mistakes I’ve made over the years. It won’t be long before they’ll be on their own. They’ll need all the help they can get, because they certainly won’t get it from following the example of our politicians.

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