This Mother's Day, make sure you are educating your girls about financial literacy too.
Would you explain the rules of crossing the street to your son but not your daughter? Of course not. But in effect, parents are doing just that when it comes to money.
I’ve been writing about personal finance for nearly three decades, but it wasn’t until I began researching my latest book, on teaching money basics to kids, that I stumbled across a surprising fact: Parents talk to their boys more than their girls about money. Let’s call this the money gap.
You don’t need to look hard to find evidence of this divide. Investment firm T. Rowe Price conducts an annual survey of more than 1,000 parents with children ages 8 to 14, studying how they handle money issues with their kids. Over the past three years, researchers asked who parents talk to more about money. While the 2018 survey showed a significant increase in parents who share their financial wisdom evenly between sons and daughters, the overall trend is pretty clear: Boys are getting more money talk than girls.
www.forbes.com
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