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

2. 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

3. 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.

4. 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

5. 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

6. Financial Literacy among parents of 5-9 year-olds
Methodology
15/11/2018
Interview period: Data has been collected in the period from until
Target group: Parents with children from the age of 5 to 9 years
Countries:
Sample Size (Not weighted) Sample Size (Weighted)
Denmark
Sweden
Norway
Finland
Estonia
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

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

8. 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

9. 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

10. 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

11. 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

12. 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

13. 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

14. 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

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

16. 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

17. 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

18. 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

19. 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

20. 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

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

22. 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

23. 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

24. Financial Literacy among parents of 5-9 year-olds
Contact YouGov
15/11/2018
Uffe Dambmann
Research Team Manager
YouGov
Anja Gram
Project Manager
YouGov
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YouGov Denmark A/S
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Financial Literacy among parents of 5-9 year-olds