Although expected expenses are declining, the experiences of recent years continue to influence household behavior. This year, 43% of parents report that rising prices are having a negative impact on their planning for school expenses. This represents a significant decline compared to last year, when 54% of people described the same experience.

Financial education begins as early as preschool age

In addition to planning family expenses, parents are also paying increasing attention to their children’s financial education. Eighty-six percent of parents talk to their children about finances, and more than a quarter begin doing so as early as preschool age. Another fifth or so broach the topic when their child starts first grade, and a quarter do so during elementary school.

Most often, parents teach their children how to shop safely online. Nearly half discuss this topic regularly and specifically. They also pay close attention to recognizing sales promotions and unfair business practices, as well as explaining family expenses and household budgeting.

Pocket money remains the foundation of financial education

Nearly three-quarters of children receive some form of allowance. The most common is a regular monthly allowance, which 34% of children receive; another 29% receive money irregularly , and 11% receive it regularly every week. Approximately one-fifth of children do not receive an allowance and do not have their own income.

In addition to regular allowance, parents most often reward children for going above and beyond or for special activities. More than four in ten parents do this, while about a quarter rely solely on a regular allowance system without additional rewards.

Children’s accounts are more common, but parents more often set spending limits

The vast majority of parents use financial products for their children. Ninety-one percent of them have at least one such product. The most common are checking accounts (45%) and savings accounts (43%), whose popularity has increased year-over-year. Already, 17% of parents use investment products for their children.

Nine out of ten children whose parents opened an account for them have their own checking account, and 85% use a debit card linked to it. The average age at which an account is opened remains around ten years old. However, parents’ approach to managing their children’s finances is changing significantly. The percentage of parents allowing their children unlimited access to the account has dropped year-over-year from 38% to 27%, while the number of parents who allow their children to manage their finances independently only up to a predetermined limit has increased. Today, 45% of families use this model.

Rodiče čekají finančně klidnější začátek školního roku