[INSIGHTS REPORT] Parents Worry About the Financial Literacy of Their Kids in a Cashless World

family finances report

We ran a two week insights project asking parents about family finances.

We were curious about what parents think about and how they manage their household finances. 261 parents gave their feedback, actively shared their opinions and gave detailed commentary about family finances via an insights panel and an online survey.

Would you like business-transforming insights for your brand? Use our tailored panels of engaged parents and our dedicated private platform to gather critical insights to help your decision making and activate customers. Contact us now to find how we can help.

This month’s Insights Report gives feedback from parents and insights into their views on family finance.

What You’ll Find in Our Highlights Report on Parents and Family Finance

To gather these insights we ran an online survey on Mykidstime.com in November 2021 with 208 responses from parents and an in-depth insights panel carried out on our ParentsandBrands private platform, also in November 2021 with 53 panel participants.

What We Asked Parents About Family Finance

Here’s a peek at of some of the key questions we asked parents about family finances:

  •  Has anything changed for you in the last 12-18 months with regards to either the way you go about saving or the amount you have managed to save?
  • When it comes to family finance, are there any brands you think are doing a good job of marketing to and communicating with parents, and why?
  • If your child/teen has a savings account, when did you/they open it?
  • Do you feel financially literate as an adult?

A Selection of the Feedback from Parents on Family Finance

“AIB have a great family finance budgeting tool that I use and really like it. I also like their ads about Green loans for sustainable improvements around the house.”

“I don’t feel school properly prepared me to have practical skills around money management, understanding banking, taxes, etc. And I didn’t listen well to my parents either.”

“As a family we have not saved at all over the past 18 months as we work in hospitality and our business has been closed.We had some savings which were very helpful during that time and taught us how important it is to put money away when we can.”

“As financial transactions are mainly digital now, I feel my children do not quite have the same understanding of money as I did as a child. They don’t physically see the money, so they do not comprehend that you need to have it to spend it.”

Download the Highlights Report for Actionable Insights

For a snapshot of insights from parents on family finances with some highlights of what they were telling us and recommendations for brands and businesses, download our free mini highlights report below.

Insights from Parents about Family Finances

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Would you like business-transforming insights from parents for your business? Use our tailored panels of engaged parents and our dedicated private platform to gather critical insights to help influence consumers to deliver long term profitability. Contact us now to find how we can help.

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