Money talks. Just not at home: RBC Poll

Executive Summary

• RBC released results of its “Talking Money with Our Kids” poll, revealing that 53% of Canadian parents of teens and young adults are worried about their children’s financial future.
• A majority (71%) say the stress over finances is affecting their own wellbeing, while 36% are waiting for key life moments before initiating money conversations.
• RBC highlighted resources—including a Student Hub, budgeting calculator, Mydoh app, and Advantage Banking account—to help parents and youth improve financial confidence.

Key Details

• Poll Scope: Conducted by Ipsos on behalf of RBC (Sept 12‑16, 2025) with a representative sample of Canadian parents of children aged 13‑24; margin of error ±3.8 percentage points.
• Key Findings – Overall Parents:
• 53% worried about children’s financial future.
• 71% report stress from finances affecting personal wellbeing.
• 36% waiting for key life moments to discuss money.
• 21% waiting for children to raise the topic.
• 16% have not yet had the conversation.
• 59% lack confidence in approaching these discussions.
• 43% are not using or unaware of available resources.
• Breakdown by Child Age Group (13‑17 vs. 18‑24): Similar trends with slightly higher worry and stress levels among parents of young adults (60% & 72%).
• Regional Variations: Stress and worry percentages range from low 40s to high 50s across provinces; e.g., 56% of BC parents worried versus 44% in SK/MB.
• RBC Resources Promoted:
• Student Hub – financial literacy & career readiness content.
• Student Budget Calculator – digital budgeting tool.
• Mydoh – prepaid VISA card and money‑management app for ages 6‑17.
• RBC Advantage Banking account – no‑fee student checking.
• Related Report: “The Cost of Keeping Up” (2025) links social‑media pressure to financial stress among Gen Z, reinforcing the need for parental guidance.

Notable Quotes

“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.

“I know how heavily social media pressures can weigh on young people… parents can play an important role in helping these young adults build the confidence to make their own decisions.” – Lucianna Adragna.