The investment firm T. Rowe Price surveyed a sample group of parents on their children’s money-management practices. That’s a scientific-sounding way of saying they asked a bunch of mothers and fathers (504, to be exact) how many of their kids have piggy banks. The answer: most (85%, to be exact). A clear majority also said the decision to withdraw money from the time-honored savings receptacle should be a “shared responsibility.” Commenting on the survey at MainStreet.com, writer Brian O’Connell said: “Teaching kids to save money with a piggy bank is a win-win-win. Kids get a great lesson on the value of money. Parents instill good personal finance habits for their kids at a young age. And banks get a ready-made audience of future customers who already understand the importance of saving money and the value of passive income (interest earned on bank deposit accounts).” Spoken like a true convert to Phil Lenahan’s steward-of-Providence way of thinking.
Kevin Bedan illustration
Subscribe to the National Catholic Register! Click here to begin a trial subscription to the print edition, and receive 3 free issues with no risk and no obligation.
Comments
Post a Comment
Post a Comment
By submitting this form, you give The National Catholic Register permission to publish this comment. Comments will be published at our discretion, and may be edited for clarity and length. For best formatting, please limit your response to one paragraph and don't hit "enter" to force line breaks.