Ninety percent of parents reported talking with their children about money and personal finance, according to a new survey conducted by Everfi, an educational technology company, in conjunction with National Financial Literacy Month this April. Despite this increase, however, the study also found that many parents feel they lack the necessary knowledge to discuss more challenging subjects, such as credit scores, emergency funds and investing. Of those surveyed, only 43 percent said they were “well-prepared” to talk to their children about financial topics.
While 86 percent of parents said they consider themselves to be the primary source of financial education for their children, many also expect schools and employers to supplement the financial skills learned at home. An overwhelming majority — 95 percent — support teaching financial education in schools.