As parents contend with rising costs and an overall tighter economic climate, more of them are using those challenges as an opportunity to have frank talks with their kids about money, according to a recent survey.
Honest conversations — including telling your kids “no” when they ask you to buy something, and explaining why — can give those kids an early foundation of financial literacy that can serve them well later in life, says Brad Klontz, a financial psychologist, author and associate economics professor at Creighton University.
In the survey of 2,000 U.S. parents, released March 31 by financial software company Intuit, almost two-thirds — 64% — of parents raising kids under age 18 said that recent financial challenges forced them to be more transparent with their children…
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Source www.cnbc.com
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