Study: Parents Are Lousy Money Role Models - Budgeting and ...

Kids look up to their parents' financial habits more than you might expect.

According to a study by T. Rowe Price as reported in TIME Magazine online, kids age 8 to 14 grade their parents with a B+ average when it comes to money matters. That seems to be a higher grade than most parents deserve, given that ...

• Only 50 percent of parents regularly save money.
• Only 43 percent have money-oriented and budget-oriented goals.
• A mere 24 percent diversify investments.
• A whopping 77 percent lie to their kids about money.
• Only 19 percent of parents talk to their kids about inflation.
• A mere 16 percent discuss investing with their kids.
• Only 8 percent of parents talk to their kids about asset allocation.

Your goal? Be in the minority of parents who act as a good financial role model for your kids, and talk to your kids regularly about saving for goals, investing and inflation.

Learn more about how to teach kids about money.

Source: TIME Magazine Moneyland

Source: http://budgeting.about.com/b/2012/03/25/parents-are-lousy-money-role-models.htm

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