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T. ROWE PRICE: MOST PARENTS SAY THEY OVERSPEND ON KIDS' HOLIDAY GIFTS

Parents, Kids & Money Survey Finds That 7% of Parents Have Used Their Retirement Savings to Pay for the Holidays and 9% Have Used Their Emergency Fund

Baltimore: November 12, 2015 – T. Rowe Price's 2015 Parents, Kids & Money Survey, which sampled 1,000 parents nationally of 8 to 14 year olds in January 2015, revealed that 62% of parents agree with the statement, “I spent more for my kids over the holidays than I should have.” While most parents use their current income (56%) and credit cards (47%) to cover holiday spending, a surprising percentage have also tapped their retirement savings (7%) and their emergency fund (9%).

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