Parent child money conversationWhen given the option to do something other than talk to their kidsabout finances, parents said they would rather go to the dentist ortalk about the birds and the bees.

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Not all moms and dads feel confident that they are giving thebest financial advice to their kids – which is why most people feelthat youth should be taught financial literacy in school, according to a survey by COUNTRY Financial.

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Ipsos surveyed 1,000 U.S. adults on behalf of COUNTRY Financialand found that, while the majority (61 percent) of respondents saythat their parents have been a key influence in shaping the waythey manage their finances, those respondents who have kids underage 21 aren't so sure about certain personal financial topics. Andnearly half (46 percent) of those respondents give their level offinancial literacy a grade of C or lower.

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Related: 10 states with the lowest financial literacy:2019

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The skill parents felt least confident in was investing in thestock market (33 percent). They feel slightly more confidentmanaging a 401(k) plan (53 percent), planning for retirement (61percent) or taking out and paying off student loans (55 percent).As such, only 13 percent of parents say they had talked to theirkids about planning for retirement, while 9 percent had talked tothem about managing student loans.

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When given the option to do something other than talk to theirkids about finances, parents said they would rather go to thedentist (39 percent), talk about the birds and the bees (36percent) or pay a speeding ticket (6 percent).

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Their lack of confidence could be due to the fact that many werenot taught about these topics in a formal setting—likely just bytheir own parents as well. The survey found that 52 percent ofrespondents who are parents (as well as 52 percent of therespondents overall) say they did not receive any financialeducation in K-12 or college.

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Moreover, only 15 percent of all of the respondents say theyfeel "very prepared" to manage their personal finances once theyleft college and entered adulthood.

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This could be why 86 percent of respondents say that financialeducation classes should be mandatory for K-12 schoolsnationwide.

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"Parents have the benefit of having real-life experience thathas helped them to sharpen their personal finance skills, but mostare not going to be experts in every topic," says Tim Harris, anexecutive vice president at COUNTRY Financial.

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In spite of parents' lack of confidence around certain financialtopics, 32 percent of the respondents say they turn to theirparents most to learn about managing finances, compared to 16percent who say they go to their spouse of partner, internet sitesand blogs (12 percent), a financial advisor (12 percent), or schoolclasses (8 percent).

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Saving (78 percent) and budgeting (52 percent) are far morepopular topics of discussion, as the majority of parents (93percent) say they reported feel confident managing a bank orsavings account.

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"It's great to see that most parents are talking with their kidsabout saving and budgeting," Harris says. "However, planning forretirement and managing student loans are equally if not moreimportant topics to discuss with your kids. Take simple steps suchas enrolling in online courses, community classes or visiting arepresentative to educate yourself fully on these topics andprepare your kids for a more financially secure future."

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Parents' lack of confidence in teaching financial literacy isalso impacting their kids' confidence, according to the survey.Nearly half (48 percent) of 18 to 34-year-olds say they feltsomewhat or not at all prepared to manage their finances whenentering adulthood.

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Consistent with the weaknesses reported by parents, only a feware confident in investing (20 percent), planning for retirementand managing a 401 (k) (32 percent), or taking out and paying offstudent loans (43 percent). By contrast, 80 percent are confidentmanaging a bank account.

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"Whether you're a parent or not, it's important to educateyourself in all of the ways finance affects your life, from theday-to-day management of budgets and loans, to planning for thefuture," Harris says. "Consider consulting with a financial expertwho can build your confidence and help to fill in those gaps."

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