Roughly half of U.S. adults say money was rarely or never discussed at home while growing up, although younger parents report more willingness to teach their children financial skills, according to a new survey by U.S. Bank.
Less than half (49%) of boomers said money was discussed growing up, compared with 62% of Gen Z who report having those conversations, U.S. Bank said. Still, nearly nine in 10 of today’s parents said they feel comfortable talking to their children about money, “signaling a significant shift toward transparency and early financial education.”
The survey also found that about two-thirds of parents said they have already started, or plan to start, teaching basic money management concepts before their children turn 12. More than nine in 10 said it’s important that children learn how to save, budget and set financial goals, with roughly the same percentage believing that how they model spending and saving habits is one of the most influential factors shaping their children’s financial understanding.
