Good news for parents who want to help their children develop better money habits. A new study from Bank of America found that 71% of millennials gave their parents an 'excellent/good' rating on teaching them good money habits, compared to 65% of parents who would give themselves the same rating. The study also found that millennials who learn about money from their parents are more likely to have savings and to stick to a budget. Student loans continue to hold many millennials back, however, with an average monthly payment of $201. Teaching kids about money is important, but it can be challenging for parents. To make it easier, Bank of America has partnered with Khan Academy to create Better Money Habits, a website with resources for parents and millennials alike.
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