Bank on this

Image of young boy putting coins into a piggy bank.

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Children pay close attention to issues related to money—saving, spending, and earning. So parents should make an effort to talk with their children to ensure that kids don’t develop misconceptions about finance.

 

A study from North Carolina State University and the University of Texas found that parents were most likely to talk about money with school-age children ages 8 to 17 in hopes that this would prepare the kids for the future.

 

Some topics seemed to be off-limits such as family finances or parental income and debt, but the researchers said kids are aware of financial issues, whether parents talk about them or not.

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