Periodically, an empirical study comes along that reinforces my own observations. ASEC's 1999 survey found that 94 percent of students ages 16 to 22 turn to their parents for financial guidance.
Parents are far and away the primary influence on their kids' financial perceptions.
Start early to deliver a consistent message. What you do is as important as what you say. But they could probably do better. The study showed, for example, that 55 percent of parents roll over credit card debt each month rather than paying it off, and less than half make a budget and stick to it most of the time. For better or worse, kids will pick up on your signals.