6 Steps To Raise Financially Responsible Children: Step 6

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Final Learning Milestone

1. Your child won’t need to start thinking about saving for retirement until they are in their 30’s.
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2. Children’s financial goals are easier to achieve if they are specific and actionable.
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False

 

 
 

 

3. One of the benefits of owning a mutual fund is the professional money management that oversees day-to-day decisions.
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4. Government bonds are considered to be a risky type of bond available for investors to purchase.
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5. When parents were asked to specifically describe what they have done to teach their kids about financial matters: 56 percent of parents can name only ONE example.
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6. College Student are bombarded with nearly 10 credit card applications per semester.
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7. 94% of students surveyed that they are likely to use their parents as a source of financial information 
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8. 80% of parents surveyed said they require their children to save money. (American Savings Education Council)
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False

 

 
 

 

9. When teaching your child about financial management you should only use specific lessons created for your child’s age.
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False

 

 
 

 

10. Americans’ revolving debt, the bulk of which is credit card balances, hit $1 trillion 1 in April 2019, according to the Federal Reserve.

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False

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