Parents want kids to have "money sense"

Parents want their children to have better "money sense" and seek out the best savings interest rates, according to a new study.

Research from Triodos Bank found that 78 per cent of parents are trying to instil good savings habits in their children, making it the number one priority for families.

It also revealed that one if four parents and one in five parents are looking for the best savings rates to put money away in the hope their children will have a better financial future.

"It's great to see so many parents keen to teach their kids about putting their savings to positive use. While parents themselves have made some changes to their financial and environmental behaviour since having children, they clearly feel an even stronger duty to pass these values on to their children," said Huw Davies, head of Personal Banking at Triodos Bank.

However, personal finance expert David Bach told Today.com that children learn by example and often pick up bad money habits from their parents.

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2011-03-21 13:03:34 © Moneyextra.com