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7 Must-Read Articles to Put Your Kids on the Right Financial Path

April 15, 2014
Linda Descano, Managing Director and Head, Content & Social, Global Consumer Bank

In support of National Teach Children to Save Day, Citi conducted a national survey of over 1,500 parents to explore the way parents are teaching their children about the value of money. You can read the press release announcing the results here.

 
The good news is that the overwhelming majority of today's parents -- nearly 9 out of 10 -- are taking a proactive role in educating their children about money. Further, this generation of parents also feels that they are setting a better example for their kids than their own parents did.
 
When we asked about how they were teaching their children about money, the most popular parent-child financial activities included:
 
• Going to the bank
• Discussing financial circumstances/what parents can and cannot afford
• Setting up bank accounts for their children
• Giving kids an allowance and leaving financial decisions about how to spend that allowance to their children
 
Still, one in three parents surveyed say their children have only a fair or poor understanding of money and saving. And, more than half (56%) worry about their children's financial future and whether their children, as adults, will have enough money for major expenses like a car or education, be able to save for a home, and maintain an emergency fund.
 
There's no better gift we can give the young people in our lives than that of financial literacy. If you are looking for ways to help your children, whether 2 to 20, build healthy money habits, check out the tips, tricks and tools, visit the Raising Money Savvy Kids page on Citi's award-winning personal finance website, Women & Co.:
 
 

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