Press
Center
Visa’s Annual Back to School Survey
Survey of 1,000 Parents of Children K-College
Conducted by Visa U.S.A.
July 24-29, 2001
| 1.) Do you generally look forward to doing
back to school shopping or do you dread it? |
|
Look forward to it |
45% |
| Dread it |
43% |
| Unsure/Refused |
12% |
| 2.) On average, how much do you spend, per
student, on back to school expenses for your child or children? |
|
Kindergarten or Elementary School |
$218.30 |
| Middle School |
$246.90 |
| High School |
$265.50 |
| College |
$618.40 |
| 3.) I try to use back to school shopping
as a way to teach my (child/children) good money management. |
|
Yes, I do |
51% |
| No, Do Not Do |
47% |
| Refused |
2% |
| 4.) Before taking my (child/children) shopping
for back to school items, I tell them what I've budgeted to
spend. |
|
Yes, I do |
51% |
| No, Do Not Do |
48% |
| Refused |
1% |
| 5.) On average, how much in allowance money
do you give your child or children? |
|
Kindergarten or Elementary School |
$7.90* |
| Middle School |
$9.80* |
| High School |
$17.20* |
| |
*Average allowance among parents who give
an allowance |
| 6.) How important are the following areas?
|
|
"very important" |
|
| Enforcing discipline in the classroom and on
school property |
81% |
| Ensuring students learn practical money skills
before graduation |
71% |
| Reducing class size |
68% |
| Improving technology in the classroom |
63% |
| Improving school facilities |
53% |
| 7.) Do you think schools should be required
to teach a class in practical money skills? |
|
Yes / Required |
78% |
| No / Not Required |
19% |
| Unsure |
3% |
| 8.) Right now where do you think young adults
learn the most about managing their money? And, where did
you learn the most about managing your money? |
|
Young Adults |
|
| Life Experiences in the School of Hard Knocks |
91% |
| In School |
6% |
| Unsure/Refused |
3% |
| You |
|
| Life Experiences in the School of Hard Knocks |
90% |
| In School |
7% |
| Unsure/Refused |
3 |
| 9.) As I read each one please tell me if
you think the average high school graduate has mastered that
skill. |
|
| Basic computer and technology skills |
60% |
| Basic reading skills |
47% |
| Basic math skills |
40% |
| Basic writing and communication skills |
38% |
| Basic money management skills |
13% |
| 10.) In your opinion, how prepared are recent
High School graduates to manage their personal finances responsibly? |
|
| Very Prepared |
2% |
| Somewhat Prepared |
46% |
| Not Very Prepared |
43% |
| Not At All Prepared |
7% |
| 11.) It's important to teach high school
students good money management skills before they leave home. |
|
Total Agree |
99% |
| Total Disagree |
1% |
| 12.) Young adults today lack the basic skills
to successfully manage their finances. |
|
Total Agree |
85% |
| Total Disagree |
12% |
| Unsure |
3% |
| 13.) Do you have a written budget that details
how much you should save and how much you should spend each
month on things like housing, groceries, clothing, transportation
and entertainment? |
|
Yes |
47% |
| No |
52% |
| Unsure |
1% |
| 14.) Does your oldest child have a budget? |
|
Yes |
31% |
| No |
67% |
| Unsure |
2% |
| 15.) If you could give other parents one
piece of advice about teaching practical money skills to children,
what would that advice be? |
|
Top 5 Responses from Parents:
- Start Early
- Teach to save
- Earn their money
- Don’t spoil them
- Value of money
|
| 16.) What grade would you give Visa’s
Practical Money Skills for Life program? |
|
| A |
63% |
| B |
25% |
| C |
4% |
| D |
0% |
| F |
0% |
|
|
