Poll: Parents dip into children's savings, piggy banks

Published On: May 08 2013 09:38:54 AM EDT

Kids - guard your piggy banks. A new poll reveals half of parents in the United States have taken money from their kids and a majority of them don't feel guilty about it.

The web site CouponCodes4U surveyed 2,578 parents in the U.S. and found 49 percent have taken money from their child's savings account. The survey also found 34 percent of parents have dipped into a child's piggy bank.

Parents spend the money taken in a number of ways, including:

  • Bills
  • Debt
  • Vacations
  • Gifts
  • Medical issues

Half of the parents who took money from their child's savings said they did not feel guilty about doing so.

According to the poll, 17 percent of parents have never dipped into a child's saving account or piggy bank.


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