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According to a survey from CNBC and Acorns, despite 83% of U.S. adults believing parents are responsible for teaching kids about money, 31% of American parents never discuss the topic with their children. Northwestern Mutual’s podcast featured Kat Stickler and Matt Stucky discussing the importance of instilling strong money management skills early on through repetition and leading by example. Stickler shared how her mother showed her the value of money through resourcefulness, while Stucky emphasized the importance of planning for future financial security by setting up accounts like a 529 and a Roth IRA for children and considering permanent life insurance.
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