Press
Center
Visa’s Annual Back to School Survey
Survey of 1,000 Parents of Children K-College
Conducted by Visa U.S.A.
July 28-29, 2002
| 1.) I try to use back to school shopping
as a way to teach my (child/children) good money management. |
|
2002 |
|
| Yes |
51% |
| No |
47% |
| Refused |
2% |
| 2001 |
|
| Yes |
54% |
| No |
45% |
| Refused |
1% |
| 2.) Is it important that area schools focus
on ensuring students learn practical money skills before graduation? |
|
Yes |
94% |
| No |
5% |
| Don't Know/Refused |
1% |
| 3.) Has your child taken any classes in school
that teach practical money skills? |
|
Yes |
35% |
| No |
53% |
| Unsure |
12% |
| 4.) Does your child’s High School or
College offer a class in practical money skills? |
|
Yes |
39% |
| No |
33% |
| Unsure/Refused |
28% |
| 5.) Which is more difficult? |
|
Getting children to clean their room |
56% |
| Teaching your children good money skills |
31% |
| Unsure/Refused |
13% |
| 6.) Do you generally look forward to doing
back to school shopping or do you dread it? |
|
Look forward to it |
41% |
| Dread it |
37% |
| Unsure/Refused |
22% |
| 7.) On average, how much do you spend, per
student, on back to school expenses for your child or children? |
|
Kindergarted or Elemntary School |
$218.30 |
| Middle School |
$207.19 |
| High School |
$279.62 |
| College |
$745.80 |
| 8.) Before taking my (child/children) shopping
for back to school items, I tell them what I've budgeted to
spend. |
|
Yes |
50% |
| No |
48% |
| Refused |
2% |
| 9.) On average, how much in monthly allowance
money do you give your child or children? |
|
| Kindergarten or Elementary School |
$11.58 |
| Middle School |
$21.79 |
| High School |
$31.19 |
| 10.) In your opinion, how important are the
following areas? |
|
| "very important" |
|
| Enforcing discipline in the classroom and on
school property |
84% |
| Ensuring students learn practical money skills
before graduation |
70% |
| Reducing class size |
66% |
| Improving technology in the classroom |
63% |
| Improving school facilities |
51% |
| 11.) Do you think schools should be required
to teach a class in practical money skills? |
|
Yes |
76% |
| No |
22% |
| Unsure |
2% |
| 12.) Right now where do you think young adults
learn the most about managing their money? And, where did
you learn the most about managing your money? |
|
young adults |
|
| Life experiences in the school of hard knocks |
91% |
| In School |
6% |
| Unsure/Refused |
3% |
| you |
|
| Life experiences in the school of hard knocks |
91% |
| In School |
5% |
| Unsure/Refused |
4% |
| 13.) As I read each one please tell me if
you think the average high school graduate has mastered that
skill. |
|
Basic computer and technology skills |
63% |
| Basic reading skills |
48% |
| Basic math skills |
43% |
| Basic writing and communication skills |
33% |
| Basic money management skills |
13% |
| 14.) In your opinion, how prepared are recent
High School graduates to manage their personal finances responsibly?
|
|
Very prepared |
3% |
| Somewhat prepared |
49% |
| Not very prepared |
33% |
| Not at all prepared |
9% |
| Don't Know/Refused |
6% |
| 15.) It's important to teach high school
students good money management skills before they leave home. |
|
| Agree |
99% |
| Disagree |
1% |
| 16.) Young adults today lack the basic skills
to successfully manage their finances. |
|
| Agree |
81% |
| Disagree |
17% |
| Unsure |
2% |
| 17.) Do you have a written budget that details
how much you should save and how much you should spend each
month on things like housing, groceries, clothing, transportation
and entertainment? |
|
| Yes |
47% |
| No |
53% |
| 18.) Does your oldest child have a budget |
|
| Yes |
33$ |
| No |
65 |
| Unsure |
2% |
| 19.) If you could give other parents one
piece of advice about teaching practical money skills to children,
what would that advice be? |
|
Top 5 Responses from Parents:
- Start Early
- Teach to save
- Earn their money
- Don’t spoil them
- How to budget
|
| 20.) What grade would you give Visa’s
Practical Money Skills for Life program? |
|
| A |
58% |
| B |
31% |
| C |
3% |
| D |
0% |
| F |
0% |
|
|
