RELATIONS BETWEEN PARENT MONEY EDUCATION PRACTICES AND CHILDREN'S KNOWLEDGE AND USE OF MONEY.

This paper presents a study that explored aspects of the assumption that specific money education practices of parents affect children's knowledge and use of money. Subjects were 512 children and 484 different mothers and fathers, selected in part at random and in part to represent rural families in the Blue Grass area of Kentucky. The variables usually relating to measures of educational status, age, IQ, parent education, and socioeconomic status, had positive linear relations with children's scores on the coin tests of knowledge of money use and the experience with money scale, with the amount of money given to children, and with parents' scores on the parent recommended practices scale. It was concluded that these measures, developed in this project, had the usefulness required to test aspects of typical recommendations for parents.