Thursday, November 18, 2010
ECONOMY PROMPTING PARENTS TO EDUCATE CHILDREN ABOUT MONEY
The economic crisis is inspiring moms and dads to teach their children about finances. Nearly 60-percent of the parents participating in a new COUNTRY Financial survey say they're doing more to educate their children about money specifically because of the current economy. In addition, 41-percent feel they need to take on the task of teaching basic money management because schools aren't doing an adequate job. Most parents also believe children should start learning about money matters at an early age. Thirty-five-percent think finances should be introduced to kids between the ages of five and seven, while 31-percent feel a child's fiscal education should begin before the age of five. Ninteen-percent say money-oriented lessons should start when kids are eight to ten years old. Only nine-percent think parents should wait until their children are at least eleven, and just six-percent believe kids should be at least 14 years old before they're asked to tackle the subject of money.