A recent survey has revealed that a staggering 85% of parents are worried about imparting poor financial wisdom to their children, leading them to steer clear of discussing money matters altogether.
The poll, which questioned 2,000 parents with children aged 10-20, found that a significant proportion of parents lack confidence in their own financial abilities.
An equal number of parents admit to feeling uncertain about investing, budgeting, and managing their credit score. As a result, they feel ill-equipped to explain these concepts to their children.
A strong 76 per cent wish they had received more financial education as a child and over half are keen to give their children the best footing in life financially.
However, 41 per cent avoid opening up about mistakes they’ve made about their finances in the past, and despite believing financial matters should be broached with youngsters around the age of nine, 66 per cent …