The TIAA-CREF Institute underwrote a national survey showing how much parents really know about finances and how they interact with their kids regarding money matters. The results of this survey, proposed by the American Savings Education Council (ASEC), the Employees Benefit Research Institute (EBRI), and Mathew Greenwald and Associates, Inc., were released at this press conference.
Ms. d'Ambrosio's remarks focused on discussing positive steps that can be taken to help strengthen financial literacy for both adults and young people. As she noted, a 1999 youth and money survey showed that more than 94% of children turn to their parents as a primary resource for financial information; the results of this newest survey indicates that most parents see this as their responsibility.
