Just in time for families to plan their holiday budgets, COUNTRY Financial® has released the results of its new Security Index Survey* on financial literacy and confidence. The survey found that personal finance may be a taboo topic in most American households, with more than a quarter of parents (27 percent) admitting that they have not talked to their kids about money.
Interestingly, the holiday season is an ideal time for parents to share important financial lessons with their kids for the gift giving season. It’s also an equally important time for partners to have good communication about holiday budgeting and spending.
This doesn’t mean it’s easy, however – most parents say they would rather go to the dentist (39 percent), talk about the birds and the bees (36 percent) or pay a speeding ticket (6 percent) than talk about finances with their children.
Finance Expert, Tim Harris, joined me to share tips for parents when preparing to talk with their kids and spouses about spending this holiday season.