Academic data has shown time and again how important parents are in modeling good financial habits that affect their children's adult lives. New research shows that goes for housing-related finances
A story today in DailyFinance.com
reports that adults who said they received a lot of parental teaching around money management as children had a lower risk of loan delinquency and foreclosure
compared with those reporting little parental teaching. Adults who learned more about money from Mom and Dad also had higher credit scores
and lower credit card debt.
In short, what your parents taught you as a child wasn't just "because they said so." This Mother's Day, thank your mom for not only giving you life, but teaching you how to keep a roof over your head!
More information for parents and teaching kids about money can be found at the Federal Reserve's education website and Prosperity4Kids.
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