Study: Back-To-School Shopping Is Money Lesson Time

What's Hot

Do This or Your iPhone Bill May SkyrocketSave

23 Upgrades Under $50 to Make Your House Look AwesomeAround The House

Trump Worth $10 Billion Less Than If He’d Simply Invested in Index FundsBusiness

11 Places in the World Where You Can Afford to Retire in StyleMore

What You Need to Know for 2017 Obamacare EnrollmentFamily

8 Things Rich People Buy That Make Them Look DumbAround The House

32 of the Highest-Paid American SpeakersMake

Amazon Prime No Longer Pledges Free 2-Day Shipping on All ItemsMore

More Caffeine Means Less Dementia for WomenFamily

9 Tips to Ensure You’ll Have Enough to RetireFamily

5 DIY Ways to Make Your Car Smell GreatCars

30 Awesome Things to Do in RetirementCollege

5 Spots Where Retirees Can Live for Less Than $40,000Real Estate

10 Ways to Pull Together the Down Payment for a HomeCredit & Debt

10 Ways to Reduce Your Homeowner’s Insurance RatesFamily

50 Ways to Make a Fast $50 (or Lots More)Grow

Back-to-school shopping is a great time to plant budget basics in teenage minds, a new survey suggests.

Fewer than half of teens say their parents have helped them learn to budget money, a new study says.

In contrast, 69 percent of parents in a Capital One survey say they are doing enough to educate their kids about money management. A similar number say they’ve discussed back-to-school shopping and needs versus wants with them.

You can guess how well that went over with the kids by looking at the survey results. Here’s what teenagers identified as their top priorities for making back-to-school shopping decisions:

  1. Style and appearance — 46 percent.
  2. Price — 22 percent.
  3. Brand name — 19 percent.
  4. Quality — 10 percent.

Once again, parents don’t see it that way. Forty-seven percent of parents say price is the most important factor, followed by quality (36 percent). There’s also the perennial debate over where to shop: Forty percent of parents plan to go to discount retailers, and 29 percent plan to shop in department stores. “For teens those numbers flip,” the survey says.

One in five teens also think smartphones and computers are “must-have” supplies, while only 4 percent of parents agree. Sound familiar?

“Parents can further [teen money skills] by building a shopping budget with teens, discussing priorities and trade-offs, and comparison shopping together to get the best deals,” Shelley Solheim, Capital One’s financial education director, said in a press release. Only about a quarter of teens have summer jobs, the survey says, and most don’t expect to help pay for school shopping.

Bringing them into the budgeting process by asking them to contribute money and research prices can make their expectations more realistic, the study suggests. Money lessons that go beyond back-to-school, such as savings plans and how to pay bills on time, can help shape their adult attitudes about money, it says.

Are your kids involved in planning back-to-school shopping? What do you do to teach them about money? Share your ideas on our Facebook page.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: How Does Debt Affect Survivors After a Loved One’s Death?

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,704 more deals!