Nearly Half of Parents Report It’s Important to Teach Children About Being Financially Savvy So They Are Properly Prepared for the Future, Finds New CouponCabin.com Survey

WHITING, Ind., Aug. 16, 2011 /PRNewswire/ — The national debt crisis has
dominated the headlines over the past weeks and left many people wondering
what’s next. While complicated and frustrating, one of the silver linings is
that it can offer a teachable moment for parents to educate their children on
the importance of managing money. According to a new CouponCabin.com survey,
nearly half (47 percent) of parents said it’s important to teach their children
about being financially savvy because after the most recent recession, they want
their children to be properly prepared for the future. This survey was conducted
online nationwide by Harris Interactive on behalf of CouponCabin.com from July
19 – 21, 2011, among 2,293 U.S. adults age 18 and older, of whom 552 were
parents of children aged 3-17.

When it comes to teaching children about financial issues, many parents start
with the fundamentals. When asked what financial topics are most important for
children to learn, parents said the following:

— Basics of a savings account – 81 percent
— Being frugal, such as bargain hunting, saving money, etc…, – 76
percent
— Creating budgets – 73 percent
— Making investments – 32 percent

“With a new school year arriving, many parents are focused on what their
children will learn in the classroom, but are also teaching financial lessons at
home,” said Jackie Warrick, President and Chief Savings Officer at
CouponCabin.com, a leading online coupon site. “More than one-in-five parents
said that even if they don’t currently talk to their children about the
importance of managing money, they plan to start. With a wealth of resources on
the web and the challenges of the past recession fresh in their minds, many
parents see an opportunity to introduce financially savvy habits to their
families.”

Many parents realize that one of the essentials of being financially savvy is to
learn how to manage money. In fact, nearly half (45 percent) of parents report
they give their children an allowance. Parents that dole out an allowance cited
the following reasons behind it:

— Earning money encourages them to be responsible and to do their chores -
78 percent
— Teaches them the value of a dollar – 73 percent
— Introduces them to the basics of budgeting – 68 percent

In an open-ended question, parents also shared the biggest financial lessons
they wish they had learned when they were young, including:

— Always be prepared for unexpected expenses.
— Debt is bad and should be paid off early.
— Credit needs to be taken seriously; it’s not just free money at your
disposal.
— How to understand student loan issues.
— How to control your impulse spending.
— Start saving for retirement at a much younger age.
— Get a credit card while still in college so you can start building
credit early.
— Don’t cash out your 401(k).
— Make long-term and short-term savings accounts.
— Learn more about good investment practices.

For the purposes of this survey, parents are defined as U.S. parents with
children aged 3-17.

Survey Methodology:

This survey was conducted online within the United States by Harris Interactive
on behalf of CouponCabin from July 19 – 21, 2011, among 2,293 U.S. adults ages
18 and older, of whom 552 were parents of children aged 3-17. This online survey
is not based on a probability sample and therefore, no estimate of theoretical
sampling error can be calculated. For complete survey methodology, including
weighting variables, please contact: Allison Nawoj, anawoj@couponcabin.com.

About CouponCabin.com

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codes, printables, grocery coupons and more. Shoppers have saved nearly $250
million since 2003 and with the largest selection of coupons guaranteed to work,
CouponCabin.com is the best place to start searching for savings. The average
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never miss out on a great deal with CouponCabin.com. For more information,
please visit http://www.CouponCabin.com.

SOURCE CouponCabin.com