The findings related to holiday saving and spending in T. Rowe Price’s 2018 Parents, Kids, & Money Survey found that parents who try to get everything on their kids’ holiday wish lists are more likely to report that they have gone into debt for their kids, worry that they’re spoiling their kids, and have kids who are less likely to save their own money. Additionally, parents who participate in promotional days, such as Black Friday and Cyber Monday, are more likely to splurge.

1. 10TH ANNUAL PARENTS, KIDS
& MONEY SURVEY – HOLIDAY
SPENDING
Detailed Results

2. 2
Contents
Parent Survey ……………………………………………………………………………………………………………………………3
Data Cuts………………………………………………………………………………………………………………………………..10
Trending From 2017……………………………………………………………………………………………………………………17
Respondent Profile of Parents………………………………………………………………………………………………………..24
Young Adult Survey…………………………………………………………………………………………………………………….27
Respondent Profile of Young Adults ………………………….…..............................................................................................29
Objective and Methodology……………………………………………………………………………………………………………36

3. 2018 PARENT SURVEY

4. 4
Q66. Do you normally save for holiday
spending throughout the year?
Q67. When do you normally start
saving for holiday spending?
Saving for Holiday Spending
45%
55%
No
Yes
12%
49%
40%
Right before the holidays
Midyear
Right after the holidays
T. Rowe Price 2018 Parents, Kids & Money Survey – Parent Survey
N=1,013 (Total respondents)
N=555

5. 5
2%
4%
13%
24%
34%
24%
$5,000 or more
$3,000 to $4,999
$2,000 to $2,999
$1,000 to $1,999
$500 to $999
Less than $500
Amount Spent on Holiday Spending
Q68. How much would you say you normally spend each year on holiday costs?
T. Rowe Price 2018 Parents, Kids & Money Survey – Parent Survey
N=1,013 (Total respondents)

6. 6
3%
4%
7%
10%
16%
35%
61%
67%
Other
Retirement
Savings
Payday
Loan
Emergency
Fund
Tax
Refund
Regular
Savings
Credit
Cards
Current
Income
Q69. Which of the following have you ever
used to pay for holiday spending?
Q70. How quickly do you pay off what you spent
on credit cards from holiday shopping?
T. Rowe Price 2018 Parents, Kids & Money Survey – Parent Survey
N=1,013 (Total respondents)
Paying for Holiday Spending
13%
9%
20%
31%
28%
More than 12 months
7-12 months
4-6 months
2-3 months
I pay it all in the first
month
N=600
 46% of parents finance holiday spending by taking a payday loan or using credit cards and
not paying off the balance right away

7. 7
2%
11%
43%
45%
Online exclusively
In stores exclusively
Mostly online but some in stores
Mostly in stores but some online
Channels Used for Holiday Spending
Q71. How do you usually shop for holiday gifts?
T. Rowe Price 2018 Parents, Kids & Money Survey – Parent Survey
N=1,013 (Total respondents)

8. 8
15%
45%
48%
49%
59%
61%
65%
80%
I spent more on myself around the holidays than I did on my kids
I try to get everything on my kids' lists, no matter how much it costs
I never stick to my holiday spending budget
I shop for items for myself around the holidays
I spent more over the holidays than I should have
I set a specific amount each year to spend on the holidays
I spend the same exact amount for holiday presents on each of my kids*
I wait for holiday promotions and deals to make big purchases
Attitudes About Holiday Spending
Q72. How much do you agree or disagree with each of the following statements?
(Displaying percent that agree)
T. Rowe Price 2018 Parents, Kids & Money Survey – Parent Survey
N=1,013 (Total respondents)
* Question only asked of those with more than one child (N=696)

9. 9
28%
5%
46%
11%
46%
38%
I didn't participate in any promotional holidays
Giving Tuesday
Cyber Monday
Small Business Saturday
Black Friday shopping online
Black Friday shopping in stores
Holiday Promotional Days
Q73. Last year, did you participate in any of the following shopping/giving promotions?
T. Rowe Price 2018 Parents, Kids & Money Survey – Parent Survey
N=1,013 (Total respondents)

10. DATA CUTS

11. 11
Trying to Get Everything on the List
45% of parents try to get everything on their kids’ list, no matter the cost
T. Rowe Price 2018 Parents, Kids & Money Survey – Parent Survey
N=1,013 (Total respondents)
I try to get everything on the list: No Yes
Finance holiday spending 44% 51%
Have payday loan debt 4% 10%
Have gone into debt to pay for something for their kids 26% 48%
Say they’ve tried various ways to get their kids to save their money instead
of spending it all right away, to no avail
51% 69%
Worry that they are spoiling their kids 51% 69%
Have kids that spend their allowance as soon as they get it 38% 56%
Have retirement savings 56% 42%

12. 12
Shopping on Promotional Days
72% of parents participate in promotional shopping days
T. Rowe Price 2018 Parents, Kids & Money Survey – Parent Survey
N=1,013 (Total respondents)
* Question only asked to those with more than one kid (N=696)
Participate in promotional days: No Yes
Save throughout the year for holiday spending 41% 62%
Set a specific budget for holiday spending 54% 64%
Use credit cards to pay holiday spending 54% 63%
Spent more than $1,000 on holiday spending 28% 48%
Spent more than they should have over the holidays 53% 62%
Shop for themselves over the holidays 36% 54%
Spend more on themselves than their kids over the holidays 10% 17%

13. 13
Significant Findings by Parent Gender
T. Rowe Price 2018 Parents, Kids & Money Survey – Parent Survey
N=1,013 (Total respondents)
Men Women
Q68. How much spent on holiday costs – Less than $500 19% 29%
Q68. How much spent on holiday costs – Less than $2K or more 24% 13%
Q69. Use credit cards to pay for holiday spending 64% 58%
Q72. Try to get everything on kids’ lists, no matter how much it costs 49% 41%
Q72. Spent more on themselves than their kids 20% 10%

14. 14
Significant Findings by Parent Age
T. Rowe Price 2018 Parents, Kids & Money Survey – Parent Survey
N=1,013 (Total respondents)
Millennial Gen X Boomer
Q66. Save throughout the year for holiday spending 62% 52% 50%
Q67. Start saving for next year right after the holidays 33% 42% 49%
Q69. Use credit cards to pay for holiday spending 54% 63% 66%
Q69. Use tax refunds to pay for holiday spending 23% 13% 14%
Q69. Use payday loans to pay for holiday spending 11% 5% 2%
Q70. Pay off credit cards used for holiday spending in the first month 21% 30% 36%
Q72. I spent more over the holidays than I should have 65% 58% 53%
Q72. I never stick to my holiday spending budget 54% 44% 49%
Q72. Try to get everything on kids’ lists, no matter how much it costs 52% 42% 39%
Q72. Spent more on themselves than their kids 20% 14% 9%
Q73. Participated in any promotional shopping day 76% 72% 64%

15. 15
Significant Findings by Parent Marital Status
T. Rowe Price 2018 Parents, Kids & Money Survey – Parent Survey
N=1,013 (Total respondents)
Married
Not
Married
Q66. Save throughout the year for holiday spending 57% 49%
Q68. How much spent on holiday costs – Less than $500 20% 38%
Q68. How much spent on holiday costs – Less than $2K or more 20% 10%
Q70. Pay off credit cards used for holiday spending in the first month 31% 18%
Q72. Try to get everything on kids’ lists, no matter how much it costs 42% 55%
Q73. Participated in Black Friday online shopping 48% 40%

16. 16
Significant Findings by Employment Status
T. Rowe Price 2018 Parents, Kids & Money Survey – Parent Survey
N=1,013 (Total respondents)
Employed
Full-Time
Not Employed
Full-Time
Q67. Start saving right before the holidays 9% 16%
Q69. Use credit cards to pay for holiday spending 63% 54%
Q71. Shop exclusively in stores 8% 15%
Q72. Shop for themselves during the holidays 52% 44%
Q73. Participated in any promotional shopping day 74% 68%

17. TRENDING FROM 2017

18. 18
45%
55%
27%
73%
No
Yes
2017
2018
12%
49%
40%
9%
43%
48%
Right before the
holidays
Midyear
Right after the
holidays
Q66. Do you normally save for holiday
spending throughout the year?
Q67. When do you normally start
saving for holiday savings?
Saving for Holiday Spending
T. Rowe Price Parents, Kids & Money Survey – Parent Survey
2017: N=1,014 (Total respondents)
2018: N=1,013 (Total respondents)
2017: N=740
2018: N=555

19. 19
2%
4%
13%
24%
34%
24%
11%
12%
20%
20%
25%
13%
$5,000 or more
$3,000 to $4,999
$2,000 to $2,999
$1,000 to $1,999
$500 to $999
Less than $500
2017
2018
Amount Spent on Holiday Spending
Q68. How much would you say you normally spend each year on holiday costs?
T. Rowe Price Parents, Kids & Money Survey – Parent Survey
2017: N=1,014 (Total respondents)
2018: N=1,013 (Total respondents)

20. 20
3%
4%
7%
10%
16%
35%
61%
67%
2%
9%
12%
16%
18%
40%
50%
59%
Other
Retirement Savings
Payday Loan
Emergency Fund
Tax Refund
Regular Savings
Credit Cards
Current Income
2017
2018
13%
9%
20%
31%
28%
4%
6%
22%
39%
29%
More than
12 months
7-12
months
4-6
months
2-3
months
I pay it all
in the first
month
Q69. Which of the following have you ever
used to pay for holiday spending?
Q70. How quickly do you pay off what you spent
on credit cards from holiday shopping?
Paying for Holiday Spending
T. Rowe Price Parents, Kids & Money Survey – Parent Survey
2017: N=1,014 (Total respondents)
2018: N=1,013 (Total respondents)

21. 21
2%
11%
43%
45%
2%
28%
29%
42%
Online exclusively
In stores exclusively
Mostly online but some in stores
Mostly in stores but some online
2017
2018
T. Rowe Price Parents, Kids & Money Survey – Parent Survey
2017: N=1,014 (Total respondents)
2018: N=1,013 (Total respondents)
Channels Used for Holiday Spending
Q71. How do you usually shop for holiday gifts?

22. 22
45%
48%
49%
59%
61%
65%
80%
58%
53%
60%
58%
72%
73%
82%
I try to get everything on my kids' lists, no matter how much it costs
I never stick to my holiday spending budget
I shop for items for myself around the holidays
I spent more over the holidays than I should have
I set a specific amount each year to spend on the holidays
I spend the same exact amount for holiday presents on each of my kids
I wait for holiday promotions and deals to make big purchases
2017
2018
Attitudes About Holiday Spending
T. Rowe Price Parents, Kids & Money Survey – Parent Survey
2017: N=1,014 (Total respondents)
2018: N=1,013 (Total respondents)
Q72. How much do you agree or disagree with each of the following statements?
(Displaying percent that agree)

23. 23
28%
5%
46%
11%
46%
38%
16%
14%
44%
21%
52%
46%
I didn't participate in any promotional holidays
Giving Tuesday
Cyber Monday
Small Business Saturday
Black Friday shopping online
Black Friday shopping in stores
2017
2018
T. Rowe Price Parents, Kids & Money Survey – Parent Survey
2017: N=1,014 (Total respondents)
2018: N=1,013 (Total respondents)
Holiday Promotional Days
Q73. Last year, did you participate in any of the following shopping/giving promotions?

24. RESPONDENT PROFILE OF
PARENTS

25. 25
49%51%
Respondent Profile
38%
26%
19%
18%
South
Midwest
West
Northeast
Q2. RegionQ1. Age Q3. Gender
Men
Women
Q5. Household Income
74%
12%
11%
2%
1%
Married
Separated/Divorced
Single
Married (Same sex)
Widow/Widower
Q4. Marital Status
21%
35%
28%
16%
<35
35–44
45-54
55+
40%
39%
21%
<$50K
$50K–$99,999
$100K+
73%
12%
13%
5%
2%
White/Caucasian
Hispanic/Latino
Black/African
American
Asian
Native American
Q6. Race/Ethnicity
(Check all that apply)
T. Rowe Price 2018 Parents, Kids & Money Survey – Parent Survey
N=1,013 (Total respondents)

26. 26
Respondent Profile
Q7. Education Level
59%
17%
9%
7%
6%
4%
2%
Employed full time
Stay-at-home parent
Employed part-time
Self-employed
Unemployed
Retired
Student
Q8. Employment Status
(Check all that apply)
2%
20%
23%
14%
27%
14%
< HS graduate
HS graduate
Some college
Assoc. degree
Bachelor's degree
Graduate degree
31%
41%
20%
8%
1
2
3
4 +
Q9. # Kids in Household
T. Rowe Price 2018 Parents, Kids & Money Survey – Parent Survey
N=1,013 (Total respondents)

27. YOUNG ADULT SURVEY
(18 – 24 YEARS OLD)

28. 28
51%
63%
74%
76%
I never stick to my holiday spending budget
I usually spend more over the holidays than I should
I shop for items for myself around the holidays
I wait for holiday promotions and deals to make big purchases
Attitudes About Holiday Spending
Q53. How much do you agree or disagree with each of the following statements?
(Displaying percent that agree)
T. Rowe Price 2018 Parents, Kids & Money Survey – 18-24 Year Old Survey
N=1,000 (Total respondents)

29. RESPONDENT PROFILE OF
YOUNG ADULTS

30. 30
47%
50%
3%
Male Female Not Male or Female
Respondent Profile
38%
24%
19%
19%
South
Midwest
West
Northeast
Q2. RegionQ1. Age
Q3. Gender
10%
13%
13%
14%
15%
15%
19%
18
19
20
21
22
23
24
70%
13%
16%
5%
3%
White/Caucasian
Hispanic/Latino
Black/African
American
Asian
Native American
Q4. Race/Ethnicity
(Check all that apply)
T. Rowe Price 2018 Parents, Kids & Money Survey – 18-24 Year Old Survey
N=1,000 (Total respondents)

31. 31
5%
8%
14%
7%
6%
8%
14%
11%
10%
9%
9%
$100,000 or more
$75,000 to less than…
$50,000 to less than $75,000
$40,000 to less than $50,000
$35,000 to less than $40,000
$30,000 to less than $35,000
$25,000 to less than $30,000
$15,000 to less than $20,000
$10,000 to less than $15,000
$5,000 to less than $10,000
Less than $5,000
25%
34%
41%
Not currently employed
Employed part time
Employed full time
Employment Status and Income
Q5. What is your current employment status?
T. Rowe Price 2018 Parents, Kids & Money Survey – 18-24 Year Old Survey
N=1,000 (Total respondents)
Q6. What is your annual personal income?
N=749

32. 32
2%
11%
12%
23%
10%
5%
5%
32%
Other
Own my own home
Rent – live alone
Rent – live with others
Live in college housing
Live with other family members
Was on my own, but now back living with parents
Still live with parents
Current Living Arrangements
Q55. What are your current living arrangements?
T. Rowe Price 2018 Parents, Kids & Money Survey – 18-24 Year Old Survey
N=1,000 (Total respondents)

33. 33
23%
3%
30%
32%
66%
None of the above
Other
Rent
Utilities
Food
Paying for Expenses
Q56. Which of the following expenses do you contribute to on a regular basis?
(Check all that apply)
T. Rowe Price 2018 Parents, Kids & Money Survey – 18-24 Year Old Survey
N=420 (Live with parents or other family)

34. 34
4%
4%
21%
34%
33%
4%
Graduate degree
Currently in graduate school
College degree
Currently in college
High school degree
Currently in high school
Education
Q54. What is the highest level of education you’ve completed?
T. Rowe Price 2018 Parents, Kids & Money Survey – 18-24 Year Old Survey
N=1,000 (Total respondents)

35. 35
5%
13%
82%
Two or more
One
None
1%
15%
84%
Divorced/
Separated
Married
Single
Marital Status and Children in Household
Q57. What is your current marital status? Q58. How many children do you have?
T. Rowe Price 2018 Parents, Kids & Money Survey – 18-24 Year Old Survey
N=1,000 (Total respondents)

36. OBJECTIVE AND
METHODOLOGY

37. 37
Objective and Methodology
Objective
 To understand the basic financial knowledge, attitudes, and behaviors of parents of
children ages 8-14, and young adults between the ages of 18-24.
Methodology
 T. Rowe Price commissioned two online surveys, one of parents of children ages 8-14, and
one of young adults ages 18-24.
 The surveys were fielded from January 16, 2018, through January 23, 2018, with quotas of
approximately 50% men and 50% women.
 A total of 1,013 parents of children aged 8-14 and 1,000 young adults aged 18-24
participated; the sampling error for samples of 1,000 and 1,013 is +/- 3.1% at the 95%
confidence interval.
 The survey was fielded through ResearchNow.
T. Rowe Price 2018 Parents, Kids & Money Survey
T. Rowe Price Investment Services, Inc.
© 2018 T. Rowe Price. All rights reserved. T. ROWE PRICE, INVEST WITH CONFIDENCE, and the Bighorn Sheep design are, collectively and/or apart, trademarks
of T. Rowe Price Group, Inc.
201810-631358