These are the worst money habits parents teach their kids

Bad money habits start young.

Parents who have bad money habits are likely to pass them onto their children, a new study by the asset management firm T. Rowe Price found this week. The firm surveyed about 1,000 parents of children between eight and 14, and then separately surveyed their children.

Some 98% of children whose parents had at least three types of savings — retirement savings, emergency funds or college savings, for example — said they had money saved, compared with 86% of children whose parents don’t have three types of savings. The savers’ children were also more likely to say they talk to their parents about money: 83% compared with 66% of those whose parents don’t have as many types of savings accounts.

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