Among parents with children 5 or older, only26%feel well prepared to teach their kids about basic personal finances.
Fewer than half of respondents feel they are a good role model for their children regarding saving and spending.
Saving versus spending was talked about in 57% of homes. Fewer than 40% of parents said they talked about credit cards, loans and debt, and their own family finances with their kids. Even less talked with their children about how to invest their money.
More than 70% of parents say they have spoken with their teens about credit and using credit cards wisely, while less than 44% of the teenaged children of those respondents say their parents have talked to them about credit cards.
53%of parents agree that their child thinks "money grows on trees."
Source: Networks Fiancial Institute at Indiana State University link