Three-in-Four U.S. Adults Wish They Had Been More Educated About Finances When They Were Children, Reveals New CouponCabin.com Survey
--Nearly Eight-in-Ten Parents Talk to Their Children About Managing Money--
WHITING, Ind., Aug. 15, 2012 /PRNewswire/ -- Bad habits start early, especially when it comes to money. A new survey from CouponCabin.com reveals that three-in-four (75 percent) U.S. adults wish they had been more educated about money when they were younger. To help stop that cycle, nearly eight-in-ten (77 percent) parents said they currently talk to their children about the importance of managing money. An additional 21 percent said they don't currently talk to their children about financial topics, but plan to start. This survey was conducted online nationwide by Harris Interactive on behalf of CouponCabin.com from July 31st – August 2nd, 2012, among 2,262 U.S. adults age 18 and older, of whom 461 were parents of children ages 3-17. For the purposes of this survey, parents are defined as U.S. parents with children ages 3-17.
When it comes to teaching children about financial issues, many parents start with the fundamentals. When asked what financial topics are most important for children to learn, U.S. adults said the following:
- Basics of a savings account – 79 percent
- Creating budgets – 75 percent
- Being frugal, such as bargain hunting, using coupons, saving money, etc... – 72 percent
- Basics of credit cards – 65 percent
- Basics of student loans for higher education – 48 percent
- Making investments – 40 percent
- Other – 9 percent
Sometimes, it can be challenging to find the right opportunity to teach children about money. More than one-quarter (26 percent) of parents use finance-related current events such as stock market changes and debt debates in Congress as an excuse to discuss financial topics with their children.
"It can be tough to fit in financial learning amidst busy school and activity schedules, but many parents take advantage of everyday happenings to talk to their kids about good money habits," said Jackie Warrick, President and Chief Savings Officer at CouponCabin.com. "Start conversations with your children when you pay for something at the grocery store or they see you using coupons. Small and natural discussions about money can be the best building blocks to raising financially fit kids."
Another common way to teach good financial habits is with an allowance. In fact, nearly three-in-four (72 percent) parents report they give their children an allowance, up from 45 percent last year. Parents that dole out an allowance cited the following reasons behind it:
- Teaches them the value of a dollar – 77 percent
- Earning money encourages them to be responsible – 73 percent
- Earning money encourages them to do their chores – 60 percent
- Introduces them to the basics of budgeting – 60 percent
These surveys were conducted online within the United States by Harris Interactive on behalf of CouponCabin from July 31st – August 2nd, 2012, among 2,262 U.S. adults ages 18 and older, of whom 461 were parents of children aged 3-17 and from July 19-21, 2011 among 2,293 U.S. adults ages 18 and older of whom 556 were parents of children aged 3-17. This online survey is not based on a probability sample and therefore, no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact: Allison Nawoj, firstname.lastname@example.org.
CouponCabin.com is a leading online destination for coupons including online coupon codes, printables, grocery coupons and more. Shoppers have saved nearly $350 million since 2003 and with the largest selection of coupons guaranteed to work, CouponCabin is the best place to start searching for savings. The average user saves $19 in just 80 seconds on the site. With customized email newsletters, browser savings alerts, new coupon alerts and more, shoppers will never miss out on a great deal with CouponCabin. For more information, please visit http://www.CouponCabin.com.