(NEW YORK) — America’s children may be back at school, but how much are they learning about money? Apparently, not much.
According to a new poll of parents by RetailMeNot.com, 70 percent say their children are not being taught about financial responsibility when they’re in class.
Trae Bodge, a senior writer at RetailMeNot, says that’s a mistake.
“We’re sending our kids out there with no financial training of their own,” she says.
That may be one reason why many college students make poor choices about debt and credit cards.
“I think it’s really crucial when kids go out into the world on their own that they have a very solid foundation of financial responsibility,” Bodge says.
Parents can help remedy this by teaching their kids about budgets at an early age. Bodge encourages parents to get kids “set up with a couple of chores and an allowance and help them save their own money and understand the value of money.”
Copyright 2012 ABC News Radio
Rob McLean and Joshua Berlinger, CNN
Kathryn Vasel and Jill Disis, CNN