The tension between intention and action is a recurring theme in how Canadians approach raising financially capable children. Nearly half of parents surveyed said their top concern was that their child would spend money too quickly, while 42 per cent worried about poor spending decisions more broadly.
A third cited fear of scams or unsafe online purchases, and 23 per cent simply felt their children were not yet mature enough.
“Parents understand that money management is a skill their kids need for life — but knowing that and feeling comfortable handing over responsibility are two very different things,” said Angelique de Montbrun, chief executive officer of Mydoh.
Despite those concerns, the data suggests parents are trying to build practical habits into daily life.
Sixty-seven per cent said they expect their child to save toward a goal during the school year, while 61 per cent expect them to manage their own spending money and 57 per cent anticipate their children making small purchases independently.