The third annual Parents, Kids & Money Survey from T. Rowe Price (NASDAQ:TRWO) reveals that 86 percent of parents feel they – more so than educators or others – should have primary responsibility for teaching their kids the basics of personal finance. Yet, parents on average only grade themselves a B- for serving as role models regarding their saving and spending habits, with more than one-third grading themselves a C or lower. Similarly, parents on average grade themselves a B for their personal knowledge about money, with more than one-quarter grading themselves a C or lower. Facilitating family financial conversations and helping convey basic money lessons is one reason T. Rowe Price collaborated with Walt Disney Imagineering and Walt Disney Parks and Resorts Online to create The Great Piggy Bank Adventure(NYSE:R), which offers lessons on goal setting, spending vs. saving, inflation, and diversification.
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