Survey Results Show Parents Have a Long Way to Go to Prepare Financially Self-sufficient Youth

Staff Report

Monday, May 16th, 2022

According to the National Financial Educators Council, parents have a powerful influence on the adults their children become – including how they handle their personal finances. But our nation's families have a long way to go in terms of preparing children to become financially self-sufficient. This month the NFEC is highlighting a recent survey indicating that most parents fall short of teaching their teenagers key life skills they'll need to meet the financial challenges of adulthood.

The survey took place between April 20 and April 25, 2022, asking 1,502 respondents across the US the question, "Which parent taught you the most about money and personal finance?" Interestingly, the results indicate that respondents were slightly more likely to answer "Mother" rather than "Father" – 30.5% and 22.9%, respectively. But the primary take-away from the survey was that 46.6% responded "Neither" to this question.