Contact Us

Many Parents Are Talking to Their Kids About Back-to-School Shopping Budgets — Dollars and Sense

goodncrazy, flickr

The new school year begins soon, and with that comes back-to-school shopping. And since many parents are feeling the crunch of the economic downturn, that means lots of them are talking to their kids about something they often haven’t before: money.

According to Capital One’s 12th annual back-to-school survey, almost three-quarters of parents have discussed “needs versus wants” with their children, and half of families report they’re sticking to a budget and creating a concrete list of necessary items for school.

That’s a sharp increase from previous years, when just a third of parents broached such subjects with their teens. And while the circumstances for doing so may be unpleasant, experts say those chats are good for kids. In fact, those who discuss money with their parents and who must make choices about material things tend to have fewer debt and money-related problems later on.

Shelley Solheim, director of Financial Education at Capital One, says that while the conversations may be tough to have, they’re “extremely important as many teens are looking to their parents for information on money management topics like budgeting and saving.”


It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for TSM Interactive quickly by connecting your Facebook account. It's just as secure and no password to remember!