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.
More from Education
What Can We Learn From Chegg's Charts?
Let's open the books and look inside.
I'm Going Public -- With My Favorite 'IPO' of the Year
Roblox was a 'metaverse'-style company before the word was cool. Here's why I'm hot on this name.
Investors Are Getting Schooled by Chegg, So Let's Study the Charts
We did our homework on this one in February and now we're learning a hard lesson about what's next.
Visit Grand Canyon to Book Nice Profits
Grand Canyon Education is a great "left to right" stock with a low valuation.
Lessons of the 'Dividend Derby'
Let's look at how increases to a quarterly dividend payment should be scrutinized by investors as we compare the moves in three companies.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.