A new study is out about money and kids and what parents think about it. This is not about how much money parents spend on raising their kids, but about how to teach their kids about money.
The study found that nearly 40 percent of 2,000 parents with kids from 5 to 17 say they worry that their children don’t understand the value of a dollar.
More than 80 percent of the parents polled agree that knowing how to be responsible when it comes to managing money starts at home. A lot of parents give their kids an allowance as they grow up with the idea of helping them learn what they need to learn about how to be financially responsible.
But the vast majority of parents also say they think that their kids should get more financial literacy education and money management skills at school.
The parents say they want their kids to learn about managing their money before they’re teenagers so their ability to handle money responsibly as adults doesn’t suffer.
Knowing how to spend money wisely and knowing how to manage a budget are obviously smart things to know when you become a grownup.
In fact, maybe the results of this study should be required reading of any one who runs for Congress.
(Photo Getty Images)