Financial stressors and raising financially savvy children

MOBILE, Ala. (WALA) - From prioritizing college tuition to choosing how to compensate their children, a new study from Ameriprise reveals the financial pressures parents are facing to provide their children with the best life possible.

Many parents worry the tradeoffs they’re making now will impact their long-term financial futures. The research also revealed opportunities for parents to shore up their own finances.

Parents & Finances Study Insights:

7 out of 10 parents (72%) experience parental guilt with more than a third (35%) putting pressure on themselves to be the perfect parent.

Most parents (70%) involve their children in family financial decisions to help instill values and half (49%) started investing for their children’s future before they turned five.

Deana Healy, Vice President of Financial Planning & Advice at Ameriprise, joined us to discuss:

-Highlights from the findings in the new study

-Share insights into how parents can approach their family finances with confidence

-How to raise financially savvy kids

About Deana Healy:

Deana Healy, CFP® is Vice President, Financial Planning & Advice for Ameriprise Financial. Healy and her team are responsible for executing the overall financial advice strategy at Ameriprise, which enables the firm’s more than 10,000 financial advisors to help clients meet their goals with confidence. In this role, Healy also leads Advice Operations, Advice Policy, and the Advice Sales Enablement Team, helping advisors efficiently and compliantly engage with clients. She has nearly 25 years of experience within the financial services industry. She is on the board of The Nijuba Project, an organization dedicated to improving the lives of underprivileged Ugandan children through quality education, health and well-being.

Healy is a CERTIFIED FINANCIAL PLANNERTM professional. She holds a Master of Arts from Princeton University and a Bachelor of Arts from Wellesley College.

About the Research:

The Parents & Finances research was created by Ameriprise Financial and conducted online by Artemis Strategy Group from January 3-31, 2025, among 3,010 American parents with at least one child age newborn to 30. Parents who are between ages 25-29 have $50,000 or more in investable assets, while parents ages 30+ have $100,000 or more.

This interview is provided by Ameriprise Financial, Inc.

For more information visit ameriprise.com.