Financial Literacy among 5-9 year-old children Based on a survey among parents in Denmark, Norway, Sweden, Finland and Estonia

Financial Literacy among parents of 5-9 year-olds List of contents 15/11/2018 Summary and key findings Summary and key figures Methodology Interview period, target group and sample sizes Results Understanding and learning about different aspects of money Access to - and use of smartphones and tablet computers Contacts Financial Literacy among parents of 5-9 year-olds

Summary and key findings When you ask parents across the countries about financial aspects, you will find out that… Very few (5%) do not believe that their children would benefit from learning more about the balance between income and expenditure - more than half (55%) of the parents think that it definitely would be good for their children A large majority (76%) of parents believe that it is the parents themselves who have the main responsibility. Children across all countries have most difficulties in understand the following two aspects: More than half (51%) of parents also think that the school have an important responsibility. "Where the household money comes from" and "How saving up Allows you to buy something you want in the future“. Especially in Denmark and Finland. Slightly more than 3 out of 4 (78%) children have access to a smartphone or tablet computer. A very large number (93%) of children in Denmark have access to these electronic devices, compared to 60% in Sweden. Almost two out of three (65%) parents think that their children would benefit from learning more about aspects of money. In Estonia it is slightly more than half of the parents. A majority (57%) of the parents stated that their child's use of electronic equipment is a reflection of our time. A very large majority (90%)of the parents have to tell their children that there are things they can not have because it's too expensive, sometimes and more often. In Estonia, 46% of parents have to say no more often, compared to 23% in Sweden.

65% 49% 55% Key figures Parents that believe that their children 15/11/2018 Parents that believe that their children will benefit from learning more about different aspects of money 65% Parents that think that electronic devices provides good learning for their children 49% Parents that think that learning more about balance between income and expenditure would do their children good 55% Children who not has access to a smartphone or tablet computer Children who has access to a smartphone or tablet computer YouGov

Financial Literacy among parents of 5-9 year-olds Purpose of the study 15/11/2018 Danske Bank wants to investigate how parents educate their children in “financial literacy”. The following topics are covered: Financial awareness and responsibility To what extent the children understand aspects of money How often parents discuss aspects of money with their child How difficult it is to discuss aspects of money with their child Where your household money comes from That different products have different value How buying one thing may mean you cannot buy another How saving up allows you to buy you something you want in the future Do parents think that their child would benefit from learning more about any of the previously mentioned aspects of money? Where would you prefer to find the information and material about private finance? To what extent are schools, parents, the government, the financial sector and private organizations responsible for children’s understanding of money? Financial Literacy among parents of 5-9 year-olds

Financial Literacy among parents of 5-9 year-olds Methodology 15/11/2018 Interview period: Data has been collected in the period from 17.03.2014 until 24.03.2014 Target group: Parents with children from the age of 5 to 9 years Countries: Sample Size (Not weighted) Sample Size (Weighted) Denmark 1.008 1.008 Sweden 507 507 Norway 515 515 Finland 720 720 Estonia 508 508 Lithuania Unknown Unknown Data Collection YouGov has hosted and coordinated the data collection in all 6 countries. Data Weighting Data is weighted on the parents’ gender. Reporting This report covers the results for all countries. Financial Literacy among parents of 5-9 year-olds

Understanding of different aspects of money 15/11/2018 Financial Literacy among parents of 5-9 year-olds

Understanding of different aspects of money 15/11/2018 One of the two most difficult aspects about money. Nearly one out of five (18%) children across the countries do not understand (or to a minor extent) this aspect. It seems to be most difficult among children in Denmark and Finland Financial Literacy among parents of 5-9 year-olds

Understanding of different aspects of money 15/11/2018 This aspect is somewhat easier for children to understand, especially among children in Norway and Finland. Financial Literacy among parents of 5-9 year-olds

Understanding of different aspects of money 15/11/2018 This aspect is in general easy to understand across all countries, except for children in Norway. Financial Literacy among parents of 5-9 year-olds

Understanding of different aspects of money 15/11/2018 This aspect is in general easy to understand across all countries, especially among children in Norway. While it seems to be rather difficult for children in Finland. Financial Literacy among parents of 5-9 year-olds

Learning more about aspects of money 15/11/2018 It seems that parents across the countries see the benefits if their children learn more about different aspects of money. Especially in Denmark and Finland. Financial Literacy among parents of 5-9 year-olds

Rejecting the child´s request because it is too expensive 15/11/2018 Most parents across the countries have to tell their children that they can not get what they want because it's too expensive. Parents from sweden, do not have to reject their children as often as in the rest of the countries Financial Literacy among parents of 5-9 year-olds

The balance between income and expenditure 15/11/2018 A majority of the parents fully agree that learning more about necessity of maintaining a balance between income and expenditure will be good for their children - particularly in Estonia. Financial Literacy among parents of 5-9 year-olds

Achieving a healthy relationship to money and personal finance 15/11/2018 Financial Literacy among parents of 5-9 year-olds

Achieving a healthy relationship to money and personal finance 15/11/2018 Parents across the countries think that it is the parents themselves who should be responsible for children will achieve a healthy relationship to money and personal finance. Financial Literacy among parents of 5-9 year-olds

Achieving a healthy relationship to money and personal finance 15/11/2018 Parents across countries also believe that the school should take responsibility for children achieving a healthy relationship to money and personal finance - particularly in Estonia. Financial Literacy among parents of 5-9 year-olds

Achieving a healthy relationship to money and personal finance 15/11/2018 Parents across countries do not believe that society or the government should take responsibility for children achieving a healthy relationship to money and personal finance - except for Estonia. Financial Literacy among parents of 5-9 year-olds

Achieving a healthy relationship to money and personal finance 15/11/2018 Parents across countries do not believe that banks should take responsibility for children achieving a healthy relationship to money and personal finance - especially not among parents in Sweden and Finland. Financial Literacy among parents of 5-9 year-olds

Achieving a healthy relationship to money and personal finance 15/11/2018 Parents across countries do not believe that private organizations should take responsibility for children achieving a healthy relationship to money and personal finance. Financial Literacy among parents of 5-9 year-olds

Achieving a healthy relationship to money and personal finance 15/11/2018 Financial Literacy among parents of 5-9 year-olds

Access to smartphone or tablet computer among children 15/11/2018 Generally the accessibility of mobile phones and tablet computers are widely used. However, somewhat less among children in Sweden. Financial Literacy among parents of 5-9 year-olds

Childrens use of smartphone or tablet computer 15/11/2018 More than half of all parents across countries agree that their child´s use of electronic devices is a reflection of our time - except for Estonia, whereit´s only 40% that agree to that statement. In Denmark there seems to be a more positive attitude towards children's use of smartphones and tablet computers. Financial Literacy among parents of 5-9 year-olds

Financial Literacy among parents of 5-9 year-olds Contact YouGov 15/11/2018 Uffe Dambmann Research Team Manager YouGov uffe.dambmann@yougov.com +45 2673 0385 +45 7027 2224 Anja Gram Project Manager YouGov anja.gram.@yougov.com +45 5133 6269 +45 7027 2224 YouGov Denmark A/S Bryggervangen 55, 1 Västergatan 1 DK-2100 Copenhagen SE-211 21 Malmö Tel: +45 7027 2224 Tel: +46 40 630 16 20 www.yougov.dk YouGov Denmark A/S YouGov Norway AS Agtrupvej 51A, 1 Møllergata 8 DK-6000 Kolding NO-0179 Oslo T: +45 7027 2224 Tel: +47 22 42 32 00 www.yougov.no YouGov Sweden AB YouGov Finland Oy Holländargatan 17 B Myllypellontie 3 C 63 SE-111 60 Stockholm FI-00650 Helsinki Tel: +46 8 41 00 58 10 Tel: +35 8 40 772 2651 www.yougov.se www.yougov.fi Financial Literacy among parents of 5-9 year-olds