{"id":402047,"date":"2020-12-17T10:03:28","date_gmt":"2020-12-17T15:03:28","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=402047"},"modified":"2020-12-17T10:03:28","modified_gmt":"2020-12-17T15:03:28","slug":"t-rowe-price-parents-putting-on-a-financial-facade-are-more-reluctant-to-discuss-money-with-their-kids","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/t-rowe-price-parents-putting-on-a-financial-facade-are-more-reluctant-to-discuss-money-with-their-kids\/","title":{"rendered":"T. Rowe Price: Parents Putting On A Financial Fa\u00e7ade Are More Reluctant To Discuss Money With Their Kids"},"content":{"rendered":"
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Twelfth annual Parents, Kids & Money Survey found that parents who try to “keep up with the Joneses” are more likely to use retirement savings to cover holiday spending<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n BALTIMORE<\/span>, Dec. 17, 2020<\/span> \/PRNewswire\/ — T. Rowe Price’s<\/span> 12th annual Parents, Kids & Money Survey<\/a><\/b>, <\/b>which sampled more than 2,000 parents of 8- to 14-year-olds and their kids, revealed that families who try to “keep up with the Joneses” are more reluctant (62% vs. 30%) to have money conversations with their kids and more likely to have risky financial behaviors and habits. Overall, many parents reported having some reluctance discussing financial topics with their kids (41%). <\/p>\n

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“Discussing money with kids is particularly important in the midst of the coronavirus pandemic, when many families have been affected\u2014from smaller consequences like a canceled vacation to a parent who has lost a job,” says Roger Young<\/span>, CFP\u00ae<\/sup>, a senior financial planner at T. Rowe Price<\/span>. “While parents may question their ability to teach money topics, they can take comfort that there are resources available to help them. Parents who put on a financial fa\u00e7ade could especially benefit from these resources, as we see an increased reluctance among them to discuss money with their kids.” <\/p>\n

To help parents discuss money with their kids, the firm created MoneyConfidentKids.com<\/a><\/b>, which provides free online games for kids; tips for parents that are focused on financial concepts, such as goal setting, spending versus saving, inflation, asset allocation, and investment diversification; and classroom lessons for educators. The site also includes a newly created student workbook<\/a><\/b> and teaching guide<\/a><\/b>,\u00a0in partnership with Scholastic, designed to make money concepts more accessible and relatable to life’s milestones. <\/p>\n

\n PUTTING UP A FINANCIAL FA\u00c7ADE<\/b>\n <\/p>\n