2014 parents, kids & money survey supplemental data

6thAugust 2014

Supplemental Data

2

Boys vs. Girls Findings

Conversations about setting financial goals – by child gender

3

58%50%

Boys Girls

T. Rowe Price 2014 Parents, Kids & Money Survey

According to kids, parents have at least occasional conversations about setting financial goals with boys significantly more than with girls.

N=488 N=424

Percent of boys and girls who say they have discussions with theirparents about setting financial goals at least occasionally

Parents saving for kids college – by child perception

4

53%

42%

Boys Girls


Only 42% of girls think their parents are saving for their college versus 53% of boys.

Percent of boys and girls who think their parents save for their college

N=488 N=424

Kids with credit cards – by child gender

5

12%

6%

Boys Girls


Twice as many boys have credit cards than girls – 12% versus 6%.

Percent of boys and girls that have a credit card

N=488 N=424

Child money intelligence – by gender

6

45%38%

Boys Girls


Boys are more likely to think they are smart about money. 45% of boys think they are very or extremely smart about money versus just 38% of girls.

Percent of boys and girls who think they are very or extremely smart about money

N=488 N=424

Kids understand value of a dollar - by gender

7

80%69%

Boys Girls


Of parents with only one child ages 8-14, 80% think their son understands the value of a dollar while only 69% think their daughter does.

Percent of parents who say their boy or girl understands the value of a dollar

N=259 N=219

8

Impacts when Discussing Saving & Spending Wisely

Kids Saying They are Smart about Money

9

49%

36%

Frequent Not Frequent% of K

ids w

ho sa

y they are

very/extremely sm

art a

bout

mon

ey


Frequency of Conversations about Saving and Spending Wisely

Parents who frequently discuss the importance of saving and spending wisely with their kids are significantly more likely to have kids who say they are very/extremely smart about money than parents who do not have frequent discussions about this topic (49% vs. 36%).

N=433 N=567

Kids Identifying Themselves as Savers or Spenders

10

53%46%


ids w

ho sa

y they are

Savers



Parents who frequently discuss the importance of saving and spending wisely with their kids are significantly more likely to have kids who say they are savers than parents who do not have frequent discussions about this topic (53% vs. 46%).

N=433 N=567

Kids Saving For Their Own College Education

11

39%

28%


ids w

ho sa

y they sa

ve

for college



Parents who frequently discuss the importance of saving and spending wisely with their kids are significantly more likely to have kids who say they save money so they can go to college than parents who do not have frequent discussions about this topic (39% vs. 28%).

N=433 N=567

12

Impacts when Discussing Saving for College


13

58%

36%


ids w

ho sa

y they are

very/extremely sm

art a

bout

mon

ey


Frequency of Conversations about Saving for College

Parents who frequently discuss saving for college with their kids are significantly more likely to have kids who say they are very/extremely smart about money than parents who do not have frequent discussions about this topic (58% vs. 36%).

N=251 N=749


14

61%

45%


ids w

ho sa

y they are

Savers



Parents who frequently discuss saving for college with their kids are significantly more likely to have kids who say they are savers than parents who do not have frequent discussions about this topic (61% vs. 45%).

N=251 N=749

Kids Saving for Their Own College Education

15

58%

23%


ids w

ho sa

y they sa

ve

for college



Parents who frequently discuss saving for college with their kids are significantly more likely to have kids who say they save money so they can go to college than parents who do not have frequent discussions about this topic (58% vs. 23%).

N=251 N=749

16

Impacts When Discussing Budgeting

Kids Saying They are Smart About Money

17

60%

34%


ids w

ho sa

y they are

very/extremely sm

art a

bout

mon

ey


Frequency of Conversations about Budgeting

Parents who frequently discuss budgeting with their kids are significantly more likely to have kids who say they are very/extremely smart about money than parents who do not have frequent discussions about this topic (60% vs. 34%).

N=284 N=716


18

56%

47%


ids w

ho sa

y they are

Savers



Parents who frequently discuss budgeting with their kids are significantly more likely to have kids who say they are savers than parents who do not have frequent discussions about this topic (56% vs. 47%).

N=284 N=716


19

53%

24%


ids w

ho sa

y they sa

ve

for college



Parents who frequently discuss budgeting with their kids are significantly more likely to have kids who say they save money so they can go to college than parents who do not have frequent discussions about this topic (53% vs. 24%).

N=284 N=716

20

Impacts when Discussing Setting Financial Goals


21

63%

35%


ids w

ho sa

y they are

very/extremely sm

art a

bout

mon

ey


Frequency of Conversations about Setting Financial Goals

Parents who frequently discuss setting financial goals with their kids are significantly more likely to have kids who say they are very/extremely smart about money than parents who do not have frequent discussions about this topic (63% vs. 35%).

N=232 N=768


22

60%

46%


ids w

ho sa

y they are

Savers



Parents who frequently discuss setting financial goals with their kids are significantly more likely to have kids who say they are savers than parents who do not have frequent discussions about this topic (60% vs. 46%).

N=232 N=768


23

58%

24%


ids w

ho sa

y they sa

ve

for college



Parents who frequently discuss setting financial goals with their kids are significantly more likely to have kids who say they are save money so they can go to college than parents who do not have frequent discussions about this topic (58% vs. 24%).

N=232 N=768

24

Impacts When Discussing Family Finances


25

66%

37%


ids w

ho sa

y they are

very/extremely sm

art a

bout

mon

ey


Frequency of Conversations about Family Finances

Parents who frequently discuss the family finances with their kids are significantly more likely to have kids who say they are very/extremely smart about money than parents who do not have frequent discussions about this topic (66% vs. 37%).

N=152 N=848


26

66%

46%


ids w

ho sa

y they are

Savers



Parents who frequently discuss the family finances with their kids are significantly more likely to have kids who say they are savers than parents who do not have frequent discussions about this topic (66% vs. 46%).

N=152 N=848


27

70%

25%


ids w

ho sa

y they sa

ve

for college



Parents who frequently discuss the family finances with their kids are significantly more likely to have kids who say they save money so they can go to college than parents who do not have frequent discussions about this topic (70% vs. 25%).

N=152 N=848

28

Impacts When Discussing Investment Vehicles(Stocks, Bonds, Etc.)


29

75%

37%


ids w

ho sa

y they are

very/extremely sm

art a

bout

mon

ey


Frequency of Conversations about Investment Vehicles

Parents who frequently discuss investment vehicles such as stocks, bonds, etc. with their kids are significantly more likely to have kids who say they are very/extremely smart about money than parents who do not have frequent discussions about this topic (75% vs. 37%).

N=110 N=890


30

62%

48%


ids w

ho sa

y they are

Savers



Parents who frequently discuss investment vehicles such as stocks, bonds, etc. with their kids are significantly more likely to have kids who say they are savers than parents who do not have frequent discussions about this topic (62% vs. 48%).

N=110 N=890


31

81%

26%


ids w

ho sa

y they sa

ve

for college



Parents who frequently discuss investment vehicles such as stocks, bonds, etc. with their kids are significantly more likely to have kids who say they save money so they can go to college than parents who do not have frequent discussions about this topic (81% vs. 26%).

N=110 N=890

2014 parents, kids & money survey supplemental data

Economy & Finance