The Conversation (0)
- Parents are worried about their children's financial future – so why are they reluctant to talk money at home?
- Parents don't need to be experts to help children build financial skills
Despite anxiety about the financial future of the teens and young adults in their families, Canadian parents are delaying having money talks with these children, or avoiding these conversations altogether, according to a new RBC poll, Talking Money with Our Kids.
Over half (53%) of parents of teens and young adults (aged 13 to 24) admit they are worried – with some stating even more strongly that they are "fearful"– about their children's financial future. In addition, a majority (71%) say that the stress this is causing, added to stress they're already feeling about their own finances, is now affecting their wellbeing.
At the same time, however, parents are reluctant to start money conversations with their children to help ease some of this stress. Over one third (36%) say they are waiting for key life moments or when the need arises, before raising the topic; 21% are holding off talking about money until their kids bring this up themselves; and 16% haven't had these conversations yet.
Poll findings also pointed out the need for parents to build up their own money mindset confidence before they can help their children.
"Over half of the parents we surveyed mentioned they didn't feel very confident about approaching conversations with their children about their financial future, which can make even thinking about this topic stressful," said Lucianna Adragna, Vice President, Client Segments, Everyday Banking, RBC. "It's so important to get this conversation started, so parents can help their children build their financial confidence. Otherwise, parents are missing a crucial opportunity to help set their children up for a successful financial future as adults."
Money stress is also weighing on young adults
Another 2025 RBC report – The Cost of Keeping Up – called out money pressures on young adults for parents to be aware of, in relation to how social media is shaping the mindset of Gen Z (aged 18 to 24).
Two key findings in this report: A majority (64%) of the young adults surveyed reported that what they see on social media can have them feeling financially behind; and even when they're doing fine financially, 55% stated that social media can make them feel like they're struggling.
"I know how heavily social media pressures can weigh on young people– particularly the generation that has grown up within a highly digital world – and these pressures can negatively influence how they manage their money," explained Adragna. "Here again is where parents can play an important role in helping these young adults build the confidence to make their own decisions and not be swayed by what they are seeing on social media."
Parents don't need to be experts: Financial education resources are readily available
Another factor holding parents back from having the money talk is not knowing where to turn for help in starting the conversation. Four-in-ten (43%) of parents surveyed by RBC's Talking Money with Our Kids poll reported they're not using any resources – or don't know what's available – to assist them in helping their children prepare for financial independence.
"Parents don't need be experts. They just need to lean into trusted resources to give parents a starting point, and the confidence, to get these conversations underway. These include the online advice and tips RBC makes available, as well as tools like our digital money management app and budgeting calculators," added Adragna. "What matters most is to begin talking about money early and often, so it becomes a comfortable topic to raise any time – not just at key life moments or when the need arises."
As part of its support for young people and their parents, RBC offers the following:
- Student Hub. A resource destination for students and parents, featuring advice around financial literacy and career readiness, products, offers and rewards.
- Student Budget Calculator. A digital tool to help students manage their money and make informed financial decisions.
- Mydoh. A money management app with a prepaid VISA card designed for families of kids and teens (ages 6 to 17). The platform helps kids and teens build practical financial experience by earning, spending, and saving with parental oversight to encourage ongoing conversations about money management.
- RBC Advantage Banking account for students. A no monthly fee account with unlimited debit transactions (available for full-time students or anyone 24 years old and younger – including recent post-secondary graduates).
- The Cost of Keeping Up. A 2025 RBC report about how social media is shaping Gen Z's money mindset.
Fast Facts: 2025 RBC "Talking Money with Our Kids" Poll
Responses from Parents of Teens and Young Adults
| RESPONSES | ALL PARENTS OF TEENS & YOUNG | PARENTS (13-17) | PARENTS OF |
| Worried about my children's financial future | 53 % | 46 % | 60 % |
| Stress about own finances and | 71 % | 70 % | 72 % |
| Waiting for key life moments or when | 36 % | 38 % | 34 % |
| Holding off on money talk until | 21 % | 19 % | 22 % |
| Haven't had the money talk yet | 16 % | 17 % | 16 % |
| Not fully confident approaching | 59 % | 56 % | 62 % |
| Not using any resources/don't know | 43 % | 42 % | 45 % |
Fast Facts: 2025 RBC "Talking Money with Our Kids" Poll
National & Regional Responses from Parents of Teens and Young Adults
| RESPONSES | CAN | BC | AB | SK / MB* | ON | QC | AC* |
| Worried about my children's | 53 % | 56 % | 53 % | 44 % | 49 % | 59 % | 55 % |
| Stress about own finances | 71 % | 77 % | 77 % | 65 % | 75 % | 65 % | 66 % |
| Waiting for key life moments | 36 % | 47 % | 37 % | 29 % | 39 % | 29 % | 22 % |
| Holding off on money talk | 21 % | 16 % | 25 % | 27 % | 19 % | 25 % | 12 % |
| Haven't had the money talk | 16 % | 7 % | 20 % | 19 % | 13 % | 19 % | 34 % |
| Not fully confident | 59 % | 45 % | 63 % | 60 % | 54 % | 72 % | 59 % |
| Not using any resources/don't | 43 % | 29 % | 47 % | 43 % | 44 % | 49 % | 48 % |
* Small sample size
About RBC's Talking Money with Our Kids survey
The survey was conducted by Ipsos on behalf of RBC between September 12 and 16, 2025 among a representative sample of Canadian parents with children aged 13–24. The results are accurate within ±3.8 percentage points, 19 times out of 20, of what the results would have been had all Canadian parents been surveyed.
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/peopleandplanet.
For more information, please contact:
Kathy Bevan, Corporate Communications, RBC
SOURCE RBC Royal Bank
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