Parents ‘not confident’ talking to their kids about money [Video]

A recent survey has shown that a whopping 85% of parents are concerned about passing on poor financial knowledge to their children, leading them to avoid discussing money matters entirely.

The poll, which surveyed 2,000 parents with children aged between 10 and 20, discovered that a significant number of parents lack confidence in their own financial skills.

Most parents said they are unsure about investing, budgeting, and managing their credit score. Consequently, they feel ill-prepared to explain these concepts to their children.

Reflecting on their own experience a solid 76 per cent wish they had received more financial education when they were younger, as such over half are eager to give their children the best possible start in life financially.

Yet, 41 per cent of parents still avoid talking about past financial mistakes, and 66 per cent believe that financial literacy should be taught in schools rather than at home.

To tackle this issue, Skipton Building Society …