RetailMeNot Shoppers Trend Reports

Volume 1, Edition 13

70% of Parents Say Their Kids Aren't Learning About Financial Responsibility in School

A new poll of parents with a child under the age of 18, conducted on behalf of RetailMeNot by Ipsos Public Affairs (www.ipsos.com), found that seven in ten parents (70%) say that there is no official curriculum/class at their child's school that teaches financial responsibility (e.g., how to budget, use credit responsibly or save for the future).

Beyond the school system, making financial literacy a priority at home remains a challenge for most families.

  • While over eight in ten parents (84%) say they have at one time or another spoken to their child about being responsible with finances, parents tend to place greater importance on talking with their kids about other issues: 
    • Nearly six in ten parents (59%) cite moral matters, such as values and religious beliefs, as the most important thing for them to talk to their kids about. 
    • Academics (16%), personal hygiene (8%), drugs (8%), personal finance values (5%) and sex (5%) tend to be seen as issues of lesser importance than moral matters.

There is a bright spot during National Coupon Month when it comes to saving: more than eight in ten parents (83%) say that their family actively or frequently uses coupons to save money when they shop. Moms are leading the way: 

  • Moms are more likely to use coupons than dads (85% vs. 81%). 
  • Nearly seven in ten parents (69%) also talk to their children about using coupons to help them save money when they shop, with moms again being more likely to do so than dads (73% vs. 65%).

Additionally, more than half (52%) of parents give their children an allowance, and nearly as many (42%) say that they require their children to keep a budget to help manage their spending and savings.

Methodology: These are some of the findings of an Ipsos poll conducted July 12–17, 2012. For the survey, a national sample of 1,041 adults aged 18 and older with a child under the age of 18 from Ipsos' U.S. online panel were interviewed online. Weighting was then employed to balance demographics and ensure that the sample's composition reflects that of the U.S. adult population according to Census data and to provide results intended to approximate the sample universe. A survey with an unweighted probability sample of 1,041 a 100% response rate would have an estimated margin of error of +/- 3 percentage points. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

About RetailMeNot.com

RetailMeNot.com (www.retailmenot.com) is the leading consumer destination for collaborative online coupon, deal and promotional code hunting and sharing. Our mission is to help consumers save money and enjoy a hassle-free discount shopping experience. Since November 2006, our users have shared hundreds of thousands of deals and offers from retailers from across the globe. Online coupons are rated and ranked by users, ensuring that quality deals rise to the top and expired coupons drop down the list. RetailMeNot.com is operated by WhaleShark Media, Inc., the world's leading marketplace for online coupons and deals.

Shopping on the go? Download the RetailMeNot Coupons App for iPhone and Android phones to access Hot Deals, browse top coupons, popular stores and categories and get thousands of online and in-store coupons to shop when you want, where you want. Make sure to "like" RetailMeNot.com on Facebook, follow the company via Twitter @retailmenotand add us on Google+.

About WhaleShark Media, Inc.

WhaleShark Media, Inc. (www.whalesharkmedia.com) is the world's leading marketplace for online coupons and deals. The company's websites enable consumers seeking to save money to find hundreds of thousands of offers from retailers across the globe. WhaleShark Media experiences more than 400 million consumer visits to its sites every year. The WhaleShark Media portfolio of coupon and deal websites includes www.RetailMeNot.com, the largest online coupon site in the United States; www.VoucherCodes.co.uk, the largest online coupon site in the United Kingdom; www.Deals.com in Germany; web.Bons-de-Reduction.com and www.Poulpeo.com in France; www.Deals2Buy.com;www.CouponSeven.com; and www.CouponShare.com. WhaleShark Media is a fast-growing, profitable company funded by venture capital firms Austin VenturesNorwest Venture PartnersAdams Street PartnersGoogle VenturesJ.P. Morgan Asset Managementand Institutional Venture Partners (IVP).

Be sure to "like" WhaleShark Media on Facebook and follow the company via Twitter @whalesharkmedia.


Media Contacts

North America
RetailMeNot PR Department
Media Inquiries: +1 512 777 2957
France
Jordy Mongin
RetailMeNot, France