Money Talks , a national education program for parents of college and college-bound children, aims to encourage parents to take an active role in their child's financial literacy and offers advice on initiating a conversation about money. The Money Talks brochure, available free to parents and colleges, is designed to open another important communication channel between parent and child. That same report indicates a majority of students feel they should know more about managing money. Yet, even when they are on the threshold of sending a child away to college, some parents may still be hesitant to talk about money. Preparing and maintaining a budget, balancing a checking account, and placing an emphasis on saving and not overspending will serve students well beyond the college years.
Young adults are a very significant group of consumers.
Other research shows an overwhelming majority of students have a checking account and more than half have a credit card. Generally, college students have proven to be responsible in managing their money. But as parents know, novices can easily get into trouble. Developed by College Parents of America and MasterCard International, the Money Talks brochure can help parents hold an educational conversation with their college-aged children about fundamental financial information. More than 25,000 Money Talks brochures are now in circulation and also will be available to parents at several college campuses this summer at freshman orientation sessions.