Toronto, ON – One in three (32%) Canadians ages 10-17 say their parents ‘regularly (6% daily/26% a few times a week) talk to them about money and finances, according to a new poll conducted by Ipsos Reid on behalf of ABC Life Literacy Canada. Four in ten (43%) say that their parents discuss these matters with them ‘a few times a month’, while one-quarter (23%) say they ‘rarely’ talk about money with their parents. 2% say they ‘never’ talk to their parents about money or finances. The following tables outlines in the full frequent discussion topics between children and parents:
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For some Canadian youth, they wish their parents would be more transparent about the family finances. One-third (32%) ‘agree’ (4% strongly/28% somewhat) that ‘they wish their parents would talk to them more about the family’s finances’. That’s not to say that curious youth are completely shut out from their family’s financial situation. One-quarter (24%) ‘agree’ (3% strongly/21% somewhat) that ‘their parents involve them in the financial decisions of the household. Some, however, have to pre-emptively ask their parents about the family’s finances. Two in ten (21%) youth ‘agree’ (2% strongly/19% somewhat) that ‘they usually initiate conversations about money and finances with their parents’. The following table outlines a number of statements regarding children, their parents, and the household finances:
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One-third (34%) of Canadian youth ages 10-17 ‘agree’ (7% strongly/24% somewhat) that ‘they think there are some secrets in their home when it comes to money’, although half (49%) ‘disagree’ (19% strongly/30% somewhat) and two in ten (17%) don’t know. Three in ten (29%) ‘agree’ (5% strongly/24% somewhat) that ‘their family has money problems’, although a majority (58%) ‘disagree’ (31% strongly/27% somewhat) and one in ten (13%) don’t know if such problems exist. Interestingly, one-quarter (26%) ‘agree’ (4% strongly/22% somewhat) that ‘they think they’re a better money manager/will be a better money manager than their parents’, although half (49%) ‘disagree’ (17% strongly/32% somewhat) and another quarter (25%) don’t know if this is/will be true. The following table outlines more opinions of Canadian youth with regards to their financial situation at home:
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These are some of the findings of an Ipsos Reid poll conducted between August 20th to 27th, 2012, on behalf of ABC Life Literacy Canada. For this survey, an overall sample of 539 youth under the age of 18, with 273 being between the ages of 10-13 and the remaining 266 being between the ages of 14-17, was interviewed online. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos online polls are calculated using a credibility interval. In this case, the poll is accurate to +/- 4.8 percentage point for all Canadian youth under the age of 18, +/- 6.8 percentage points for all Canadians between the ages of 10-13, and +/- 6.9 percentage points for all Canadians between the ages of 14-17. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error. For more information on how to credibility intervals, please visit the Ipsos website at http://ipsos-na.com/dl/pdf/research/public-affairs/IpsosPA_CredibilityIntervals.pdf
For more information on this news release, please contact:
Associate Vice President
Ipsos Reid Public Affairs
About Ipsos Reid
Ipsos Reid is Canada's market intelligence leader, the country's leading provider of public opinion research, and research partner for loyalty and forecasting and modelling insights. With operations in eight cities, Ipsos Reid employs more than 600 research professionals and support staff in Canada. The company has the biggest network of telephone call centres in the country, as well as the largest pre-recruited household and online panels. Ipsos Reid's marketing research and public affairs practices offer the premier suite of research vehicles in Canada, all of which provide clients with actionable and relevant information. Staffed with seasoned research consultants with extensive industry-specific backgrounds, Ipsos Reid offers syndicated information or custom solutions across key sectors of the Canadian economy, including consumer packaged goods, financial services, automotive, retail, and technology & telecommunications. Ipsos Reid is an Ipsos company, a leading global survey-based market research group.
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Ipsos is an independent market research company controlled and managed by research professionals. Founded in France in 1975, Ipsos has grown into a worldwide research group with a strong presence in all key markets. In October 2011 Ipsos completed the acquisition of Synovate. The combination forms the world’s third largest market research company.
With offices in 84 countries, Ipsos delivers insightful expertise across six research specializations: advertising, customer loyalty, marketing, media, public affairs research, and survey management.
Ipsos researchers assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media and they measure public opinion around the globe.
Ipsos has been listed on the Paris Stock Exchange since 1999 and generated global revenues of €1,363 billion (1.897 billion USD) in 2011.
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