Should kids learn to spend before they learn to earn?
A third of parents, 33 percent, worry their child will be scammed or make unsafe online purchases, and 23 percent say their child is not mature enough yet.
Two thirds of parents, 67 percent, expect their child to save up for something they want during the school year while 61 percent expect them to manage their own spending money and 57 percent expect them to make small purchases independently.
Just 22 percent of parents expect their child to manage part of the back-to-school shopping budget, and 13 percent expect their child to make purchases online independently.
Nearly one in five parents, 19 percent, say they find it difficult to step back and allow financial mistakes.
“Knowing that and feeling comfortable handing over responsibility are two very different things,” said Angelique de Montbrun, chief executive officer of Mydoh, in the release, referring to parents who see money management as a life skill.
