Moms and Dads and their children. That’s you; that’s me and that’s an untapped resource for real estate owners and investors trying to secure additional moneys and partners. To learn more about this demographic group, let’s look at the results of a recently-released TD Bank Financial Literacy Poll:
1) 34 percent of respondents rated their financial knowledge as “good” or better (is good enough? Should it be?)
2) 66 percent of dads also report they wish they had more conversations with their children about money (is their a vacuum here?).
3) While Moms perceive themselves to be less financially confident, 52 percent report feeling they take all or most of the responsibility to teach their children about financial matters (are we ‘speaking to Moms?)
4) When it comes to the actions taken by individual parents toward their child’s financial education, moms are more likely to engage in everyday financial conversations: Teaching children how to count money (81%) Teaching money matters while shopping (70%) Saving money in a piggy bank (70%) Dads, on the other hand, are more likely to focus on the tangible aspects of money: Providing an allowance (52%) Setting a savings goal (32%).
Looks like there are Moms, dads and their children in need of some help in the form of education and actual opportunities to invest in real estate.
Invest well. Peace.