Why You Should Talk to Your Child About Your Family’s Finances

Colorado Parent, January 2020

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Finance

Research tells us the finances of many American parents aren’t in the best shape. Here’s why you should talk to your kids about your money anyway.

By SARAH PROTZMAN HOWLETT

On the whole, today’s parents are talking more with their kids about issues that rarely saw daylight just a couple generations ago, from bullying and mental health to the complexities of sexuality.

But when it comes to money—and hoping their kids develop better habits than they perhaps had (or have)—it’s still far too easy to clam up: A 2019 study from Experian, a global credit reporting company, says that among 18- and 19-year-olds, only 58 percent say their parents are financial role models. Additionally, 46 percent say they have unanswered questions about money and feel “uncertain” and “nervous” when it comes to managing their finances.

[ Illustration: Getty Images ]

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