From the ArcaMax Publishing, Parents Newsletter:
http://www.arcamax.com/news/parents/s-437652-718044
TORONTO (UPI) -- A survey of Canadian parents and their teenage
children shows bad financial saving and budgeting practices are being
passed on.
The survey of 814 equally divided parents and teens found 56 percent
of parents have a set budget to which they try to adhere, while 25
percent of teens do, the survey for Credit Canada found.
With regard to maintaining a regular saving plan, 33 percent of
parents said they did, while only 20 percent of teenagers said they
had a plan.
"We are poised to have another generation unprepared to manage their
money and save for their futures because nobody is taking the time to
properly explain all the basics of money management to them," Credit
Canada Executive Director Laurie Campbell said in a news release. "The
next generation will be as ill-equipped to deal with their finances as
their parents if we don't start taking the responsibility of teaching
our children the basics about money more seriously."
The survey found only 14 percent of parents said they had taught their
children about the importance of saving money, different saving
vehicles and the benefits, the release said.
The poll's margin of error was 3.4 percent, the company said.