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214 votes. |
Recent survey results
reported in Teacher Talk Magazine find that most parents think it's the responsibility of school teachers to instruct their children on money matters. Parents don't seem to want to talk with their kids about money and some think the topic sensitive enough to label it impolite. Without guidance kids think it's okay to purchase goods that they can't pay for. Many 16 year olds have a credit card and 40% buy items at malls without being able to pay for it later. Other survey findings: 94% of kids want to receive financial information and guidance from their parents . 30% of kids say their parents never discuss money issues with them . Two out of 3 kids admit they don't know enough about money . One in three say there is no discussion at home about long-term goals on saving Matatan has a summertime homework assignment for parents: Talk to your pre-teen kids about the household budget. Show them how much electricity, the mortgage, taxes and food costs each month. Take your pre-teen to the grocery store. Show them the value of items and describe how you shop using unit pricing. Explain how a larger sized item may be pricier than smaller units. Talk with teens about the benefits of long-term savings. Help your teen open up a checking account and balance the account together each month. Assist your teen in opening up a mutual fund. Or, at least show them how you invest for your future. Discuss money issues openly with your kids to rid them of the idea that money simply grows in your wallet. Visit American Savings Education Council at http://www.asec.org for topic suggestions when you talk with your children about money matters. |