This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Kids Want More Guidance On Money Matters, Yet Parents Lacking As Financial Role Models, T. Rowe Price Survey Finds

BALTIMORE, March 22­­, 2012 /PRNewswire/ -- The 2012 Parents, Kids & Money Survey from T. Rowe Price (NASDAQ-GS: TROW), which surveyed parents, and for the first time, their kids, reveals that kids ages 8 to 14 want to know more about money matters, particularly about saving and how to make money. Yet, while talking about money is generally encouraged, and 76% of parents are having money conversations with their kids at least somewhat often, survey findings indicate that parents are not doing enough to teach their kids basic financial lessons. The survey results, which are being released in recognition of Financial Literacy Month in April, also revealed that although kids give their parents a B+, parents were found to be lacking as financial role models. 

"Kids are eager to learn, and if we want to put them on the right financial path, parents need to be open and honest about money, demonstrate better financial behaviors and spend the time teaching basic financial lessons the way they do other skills," says Stuart Ritter, CFP®, a T. Rowe Price senior financial planner and father of three. "While kids think their parents are good financial role models and do a good job teaching them about money, parental behavior suggests there's a lot of room for improvement. Parents don't need to be experts, but doing more to instill sound financial habits is crucial, especially given the uncertain financial future parents believe awaits their kids and if they don't want their kids to have the same financial regrets they do."

According to the survey, 77% of parents say they are not always honest with their kids about money-related items, with 15% not telling the truth at least weekly. Most commonly, 43% of parents report not being honest about how worried they really are about money, 32% tell their children they can't afford something when they really can, and 27% withhold information about the family's true financial situation.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs