Skip to main content
Quicken
  • Solutions
    • Manage Spending
    • Create a Budget
    • View & Pay Bills
    • Plan for Retirement
    • Track Investments
    • Manage a Small Business
    • Property Management
  • Benefits
  • Plans & Pricing
  • Support
    • Help Center
    • Community
    • Contact Support
    • Download & Install
    • Getting Started
    • FAQ
  • Sign In
    • My Account

      1. Update your user profile or password
      2. Manage your subscription status
      3. Manage your Bill Manager Subscription
      4. Get Dropbox code
      Sign In
    • Quicken on the Web

      1. Free with your Quicken desktop subscription
      2. Access Quicken anytime, anywhere
      3. Add and edit transactions
      4. Sync and view all your accounts in any browser
      5. See investment portfolio daily changes
      Sign In
    • Investing.quicken.com - Quicken Windows investing site (must be enabled in desktop first)
    • Sign Out
  • Buy Quicken
You are here
Home

Quicken Study: Raising Financially Successful Children

One-Third of Americans Say No One Taught Them About Money

MENLO PARK, Calif. July 9, 2019 - As part of its mission to help people lead healthy, confident financial lives, Quicken Inc., maker of America’s best-selling personal finance software, recently surveyed over 2,000 adults in the U.S. to learn more about the impact of early financial education.

The responses—half of which were sourced from the general population and half from the Quicken customer community—provide a deeper understanding of how parents talk to their kids about money and the impact of their own early financial education (or lack thereof) on those conversations.

Early Financial Education Has A Significant Impact on Adult Earning Power

There was a clear correlation between early education in money and financial confidence and success as adults. People who reported learning about money as a child are three times as likely to have a personal annual income of $75k or higher than those who didn’t (45% vs. 14%).

A significant challenge emerged: one-third of adults surveyed said that no one taught them about money when they were children. Unsurprisingly, among that group, only 13% report a high level of confidence in their finances as adults. 

A Lack of Financial Education Can Span Generations

People who learned about money as children are 20% more likely to prioritize teaching their own children about money. Those who said no one taught them about money as a child were twice as likely to delay talking to their own children about money until age 18+. 

The Right Tools are Key

The top tools for teaching kids about money—allowances, saving accounts, and piggy banks— may not have changed much over time, but the lessons have evolved. Today, parents are teaching their children about charitable giving 60% more than their own parents did, using credit cards to teach their children about money almost 50% more, and teaching their kids about investing 85% more than the people who taught them about money.

There’s good news too. The survey revealed evidence that using the right tools, like software, can compensate for an early gap in financial education. When Quicken isolated the answers from its customers they found, even when lacking an early financial education, Quicken users are five times more likely to have a high level of confidence in their finances than the general population (65% vs. 13%).

For a look at the full survey results, read Raising Financially Independent Children on the Quicken blog.

###

About Quicken

For over 30 years, customers have relied on Quicken to help manage their complete financial picture, so they can live their best lives. In 2016, Quicken became a fully independent company led by members of the early Quicken team to help a new generation of customers make the most of their money. Today Quicken is the best-selling personal finance software in the US. We have expanded our lineup to include Quicken on the Web and the Quicken Mobile App for iOS and Android so customers can manage their finances anytime, anywhere. More information can be found at quicken.com.

 

† Limited time offer of 40% off the list price applies only to the purchase of Quicken Deluxe, Premier, Home, Business & Rental Property for the first year only when you order directly from Quicken by April 21, 2021, 11:59 PM PST. Offer good for new memberships only. Subscription billed annually. Offer listed above cannot be combined with any other offers. Terms, conditions, pricing, features, offers and service options subject to change without notice.

* Footnotes and disclaimers
  • Monitoring alerts, data downloads, and feature updates are available through the end of your membership term. Online services require internet access. Third-party terms and additional fees may apply. Phone support, online features, and other services vary and are subject to change. 14,500+ participating financial institutions as of October 1, 2018.
  • Standard message and data rates may apply for sync, e-mail and text alerts. Visit https://www.quicken.com/go/apps for details. Quicken App is compatible with iPad, iPhone, iPod Touch, Android phones and tablets. Not all Quicken desktop features are available in the App. The App is a companion app and will work only with Quicken 2015 and above desktop products.
  • Purchase entitles you to Quicken for 1 or 2 years (depending upon length of membership purchased), starting at purchase. Full payment is charged to your card immediately. At the end of the membership period, membership will automatically renew every year and you will be charged the then-current price (prices subject to change). You may cancel before renewal date. For full details, consult the Quicken Membership Agreement. You can manage your subscription at your My Account page.
  • Purchase entitles you to Quicken for 1 or 2 years (depending upon length of membership purchased), starting at purchase, plus 3 free bonus months, if applicable. Full payment is charged to your card immediately. At the end of the membership period (including 3 free bonus months if applicable), membership will automatically renew every year for a period of 1 year and you will be charged the then-current price (prices subject to change). You may cancel before renewal date. For full details, consult the Quicken Membership Agreement. You can manage your subscription at your My Account page.
  • If you are redeeming the free Quicken Starter product through the purchase of TurboTax, and you are currently in an active Quicken subscription and not within 6 months of your renewal date, you will have to return to this page within 6 months of renewal in order to redeem. Additionally, note that if you are currently subscribed to Quicken Deluxe, Quicken Premier or Quicken Home & Business, by redeeming the free Quicken Starter product, you will lose some of the features that are associated with your current higher-tiered product.
  • Quicken for Windows imports data from Quicken for Windows 2010 or newer, Microsoft Money 2008 and 2009 (for Deluxe and higher). Quicken for Mac imports data from Quicken for Windows 2010 or newer, Quicken for Mac 2015 or newer, Quicken for Mac 2007, Quicken Essentials for Mac, Banktivity.
  • 30-day money back guarantee: If you’re not satisfied, return this product to Quicken within 30 days of purchase with your dated receipt for a full refund of the purchase price less shipping and handling fees. See https://www.quicken.com/30dayguarantee for full details and instructions.
  • Quicken for Mac software and the Quicken App are not designed to function outside the U.S.
  • The VantageScore provided under the offer described here uses a proprietary credit scoring model designed by VantageScore Solutions, LLC. There are numerous other credit scores and models in the marketplace, including different VantageScores. Please keep in mind third parties may use a different credit score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.
  • VantageScore®, Equifax®, Experian® and TransUnion® are registered trademarks of their respective owners.
  • All 2018 and newer versions of Quicken entitle users to 5GB of free Dropbox storage while subscription is in effect.
  • EQUIFAX is a registered trademark of Equifax Inc. The other Equifax marks used herein are trademarks of Equifax Inc. Other product and company names mentioned herein are property of their respective owners.
  • Portfolio tracking included with Quicken Premier and Quicken Home & Business on Windows
  • Payment links are only available for Quicken Home & Business.
  • Illustrations © Adam Simpson. All rights reserved.
  • © 2021 Quicken Inc. All rights reserved. Quicken is a registered trademark of Intuit Inc., used under license.
  • Personal Finance Software
  • Quicken for Windows Products
  • Quicken Starter for Windows
  • Quicken Deluxe for Windows
  • Quicken Premier for Windows
  • Quicken Home & Business
  • Quicken Starter for Mac
  • Quicken Deluxe for Mac
  • Quicken Premier for Mac
  • Quicken Mobile App
  • Simplifi by Quicken
  • Quicken Solutions
  • Manage Spending
  • Create a Budget
  • View & Pay Bills
  • Plan for Retirement
  • Track Investments
  • Manage a Small Business
  • Property Management
  • Quicken Benefits
  • Quicken World Mastercard
  • Pay Bills Online
  • Stock Quote Lookup
  • What’s New in Quicken
  • See What’s New
  • Quicken Community
  • Community
  • Facebook
  • YouTube
  • Twitter
  • About Us
  • About Us
  • Careers
  • Press
  • Help and Support
  • Billing Terms & Conditions
  • Quicken Support
  • Screenshare
  • Sign In
  • Download Quicken
  • My Order History
  • Investing Portfolio
  • Tips and Tools
  • Quicken Blog
  • Money Management Tips
  • Quicken Product Tips
  • Investing Center
  • Financial Terms
  • Budget Calculator
  • 401k Retirement Calculator
  • Quicken Benefits
  • Corporate Programs
  • Affiliate Program
  • University Alumni Program
  • Quicken Canada
  • Quicken Canada - Home Page
  • Sitemap
  • Privacy Policy
  • Quicken License Agreement
  • Terms of Use
© 2021 Quicken Inc. All rights reserved. Quicken is a registered trademark of Intuit Inc., used under license. iPhone, iPod, iPad Touch are trademarks of Apple Inc., registered in the U.S. and other countries. Android is a trademark of Google Inc. Dropbox, PayPal, Yelp, and other parties’ marks are trademarks of their respective companies. Terms, conditions, features, availability, pricing, fees, service and support options subject change without notice. Corporate Headquarters: 3760 Haven Avenue, Menlo Park, CA 94025 Do not sell my information