From a recent survey of 1,000 parents based in the US with kids under 18 living at home.
Waltham, Mass., November 13 – Jassby, Inc., the fintech company that created one of the industry’s top family finance apps, today announced results of a survey asking 1000 parents with kids under 18 years old 15 questions about the impact of Covid on their kids’ education. What Jassby found was parents are stressed about how caring for their children was made more difficult by the financial struggles during the pandemic. Some key take-aways:
- 16% of parents feel like their current educational setup negatively impacted their relationship with their kids. (34% have found it positive. 48% had no change)
- 70% of parents feel their children are missing pieces of their education
- 72% think their school taxes should be lowered if kids continue remote learning
- 31% are more afraid for their children’s future now than 60 days ago
- 12% lost their jobs in the pandemic, 14% quit work to support kids, 35% are still employed but very worried
- 40% are speaking to their kids about money; 25% are paying kids to say focused on remote work
- Only 56% are turning to teachers for recommendations. (43% are going online and 17% have no resources to help)
The survey results show a clear impact on families with long-term effects that go beyond the normal Covid concerns. “We must find a way to support families dealing with enough during these times. Helping parents understand what they can be doing to supplement their kids education is imperative”, said Greg Bottenhorn, EVP of Jassby. Bottenhorn added a few thoughts on how parents could do this:
- Explore online peer groups. Many clubs are still meeting virtually, including school bands.
- Sign your kids up for new virtual learning classes. Reconnect them with the enjoyment of education by finding courses that are of particular interest to them: advanced math, robotics, crafts, foreign languages, coding, or even a course on making better Instagram videos!
- Take this opportunity to educate your kids on things they aren’t learning in school. Financial literacy is a great place to start. In fact, the Jassby survey results showed that 40% of parents are taking this time to speak with their kids about money. A great way to do this is by joining 25% of parents who are offering their kids money to stay focused on remote work. Let them decide how they will use that money to teach them the value of what they have earned.
Jassby believes in a philosophy that kids “learn by doing” and have recently added a Virtual Debit Card for Kids as a way of pursuing this. They are opening up early registration of the virtual debit card for families today with a waiting list approaching 20K. For full card details, please visit www.Jassby.com/VDC.
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