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The Rock Of Virginia - Roanoke/Lynchburg

30% of Parents "Borrow" Money From Their Kids' Piggy Banks

30% of Parents

Stealing from your kid's piggy bank is REALLY not a good lesson on the value of SAVING.  It might be a good lesson on the brutality of taxes, but that would take some VERY creative spin.



A new survey on parents, kids, and money just found 30% of parents admit they sometimes "borrow" money from their kids' piggy banks.



48% of parents bribe their kids with money to behave.



52% say it's more important to save for their kids' college than their own retirement. 



44% said the best way to save for college is a savings account . . . only 34% knew about a 529 account, which is a college savings account that offers tax breaks.



And 7% of parents said the best way to save for college is a UBO-67 or CS213 account . . . neither of which actually exists. 




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