It's time for an awkward talk. You sit down with your kid and you can talk about the birds and the bees, the temptation of drugs or money.
Which would you choose?
More than half of parents asked in a new survey said they'd choose those other topics over the money talk.
Fifty-seven percent of parents surveyed by Acorns, a financial wellness company, said discussing such topics as drugs, alcohol and sex would be easier than talking about money.
One in three parents also said they've avoided talking about money because of their own financial situation, experiences with money or money habits.
Money discussion remains elusive
"Money is that kind of taboo subject," said Liz Bonner, a parent in Washington, D.C. "You want to be transparent as much as you can and educate your child, but
you also know that this could get beyond your family."
It's the age-old challenge, said Noah Kerner, CEO and chairman of Acorns.
"If adults are not particularly comfortable talking about money, they're not going to be comfortable talking about money with their kids," he said.
The Acorn study, "Money Matters for Kids," was based on a nationwide survey of 2,000 U.S. parents and their kids ages 6 to 17.
Bonner has been using an app by Acorns Early to help her 12-year-old son, Curtis, learn about money and investing.
The family started using the app as a way to pay Curtis his allowance and to teach him about saving and investing. Curtis splits his allowance into four categories: save, spend, invest and donate. He also uses the app to help him invest in companies like Marriott, Toyota and Raytheon because he's interested in cars, aviation and traveling.
Curtis said money isn't really a topic discussed at the school lunch table, but when his friends want to spend a lot of money on a game, he advises them against it.
Figuring out age-appropriate discussions about money has been a challenge, Bonner said. But it is important for parents to teach their children instead of putting off the discussions, she said.
Teach the concepts of debt early
Approaching the idea of debt may be especially tricky. There can be a lot of shame in the discussion if parents are in debt, Kerner said.
"But you can talk about the importance of understanding debt ... and it doesn't mean you need to talk to your kids specifically about the debt you're struggling with," Kerner said.
Teaching kids the concepts can be helpful, he said.
For instance, 60% of kids in the study said they were familiar with Buy Now, Pay Later, and 30% believe financing groceries that way is a good financial decision.
"It's important that kids understand that buying now and paying later means you're paying later," he said. "These are important lessons for kids to learn really early on."
What do kids believe about money?
The study also shed some light on how kids view – and learn about – money.
Young people said they were learning about money through YouTube, video games, TikTok, digital creators and other platforms.
And while 73% of the kids said they believe becoming an influencer is a realistic path to wealth, and 78% of them would like to become content creators, only 2.8% said they would trust an online influencer to teach them about money.
Additionally, 85% of kids still believe that consistently saving money can build wealth over time, and 91% of them believe doing well in school is an important step toward achieving their financial goals.
Betty Lin-Fisher is a consumer reporter for USA TODAY. Reach her at blinfisher@USATODAY.com or follow her on X, Facebook or Instagram @blinfisher and @blinfisher.bsky.social on Bluesky. Sign up for our free The Daily Money newsletter, which breaks down complex consumer and financial news. Subscribe here.
This article originally appeared on USA TODAY: Parents say talking about money is harder than discussing sex
