Mom Central Study: How To Raise Financially Responsible Kids in Uncertain Times
In March 2009, Mom Central Consulting surveyed nearly 1200 Moms across the United States about the impact of the recession on their families. The survey focused on how American families are directly impacted by the current economic recession. These findings illuminate in these tough economic times, Moms face new expectations, increasingly tightened budgets and changing values. Some highlights:
Moms are Cutting Back
- Nearly ¾ of Moms are cutting back spending on their children, while 26% are saying they are making significant cuts.
- Hardest Hit Areas: 84% no longer eat out and 76% don’t buy new items for themselves.
Moms are Teaching Fiscal Responsibility
- 24% of Moms say their children think that money ‘grows on trees’, while 50% say their children believe their children know their parents work hard to provide for them.
- Moms would like to teach their children about saving, how to appreciate what they have instead of what they want and encourage them to recycle or donate old items.
Moms are Stressed and Anxious in these Difficult Economic Times
- 32% of Moms are worried about the economy or their job stability.
- 44% of Moms surveyed indicate stress about paying for groceries.
To see the full report, click below: