A survey of 5,000 American parents found that the average respondent gave their child 114 pieces of financial advice per year. However, their child listens only 54% of the time. 36% of parents are very confident in the advice they give, and 72% want to further their financial knowledge to help their kids. “Parents have to manage countless complex conversations as they prepare a child for adulthood. Finances are certainly top of the list,” Ankita D’Mello at Wise said. While 55% of parents are confident in their budgeting, only 4% feel knowledgeable when it comes to international finance. (swnsdigital)
Phone Topic: Do your parents give good financial advice?