Teaching dollars and sense
Parents have a simple message for their kids who request money to buy things: "The buck stops here."
That's the finding of a new Lutheran Brotherhood survey of American adults. It found that more than a quarter of parents say they rarely or never pay for the things kids ask for but don't need. Only 16 percent said they buy the things their children ask for most or all of the time.
*84 percent of parents say they talk with their kids at least monthly about family finances.
*88 percent require their kids to earn or save money in order to buy something they want.
*88 percent discuss the difference between wants and needs.
*72 percent set up saving or investment accounts for their kids.
*66 percent give an allowance.
*62 percent encourage giving to charities or places of worship.
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