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Survey Finds Moms Rarely Dish Out Advice With The Monthly Cash Allowance

September 8, 2011: 02:52 AM EST
A national survey of 300,000 mothers of teenagers conducted by Tremor, the Procter & Gamble marketing division that focuses on social engagement, found that eight of ten will be sending their kids back to school with a monthly cash allowance of at least $100. About 45 percent acknowledged giving their teens spending money once a week. But the survey also found that 61 percent admitted not having a serious conversation with their kids about money – only a casual one over dinner. And when asked how financially knowledgeable their kids were, 40 percent confessed they weren't sure. The survey was conducted with BillMyParents, which offers a reloadable prepaid card.
"New Procter & Gamble Survey of Moms Shows Teens Need More Input from Their Parents When It Comes to Spending", News release, P&G, September 08, 2011, © P&G
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