36% of young adults are 'financially at risk'—here's how to prevent that from happening to your kids via CNBCMakeIt
Preparing your children for financial stability
The findings of the study suggest a strong need for parents to make a serious effort in helping their children develop financial literacy at an early age.suggests that by age five, children are able to develop "distinct emotional reactions [to spending and saving money] that can translate into actual, real-life spending behaviors."survey by asset management firm T. Rowe Price, most parents don't start discussing financial topics with their children until age 15.
According to the T. Rowe Price report, 33% of parents talk to their children about money only once a month, while 4% said they never do at all. More than a third of those surveyed considered money talk as an outright "taboo." "If parents aren't talking with their kids about subjects like family finances or debt, their kids are drawing their own conclusions, which may not always be accurate," Lynsey Romo, an assistant professor of communication, said in an interview with
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