A majority of Canadian parents are concerned their children won’t be able to properly handle money when they grow up, according to a recent national survey sponsored by Edward Jones and conducted by Leger Marketing.

Among Canadians with children or grandchildren under the age of 18, 61% are concerned about their offspring’s ability to manage money when they grow up.

In an identical U.S. survey, 77% of American parents/grandparents said they were anxious about whether their children will have the ability to manage their money when they reached adulthood.

The concern is greatest among those Canadian parents aged between 35 and 44 years old, perhaps because of their own debt load worries. In this group, 71% were concerned about their children’s ability to manage money.

Edward Jones has recently launched a program to help parents teach their children how to effectively manage their money. How to Raise a Money-smart Child includes teaching tools such as a Money Savvy Pig savings bank and activity books designed to help children learn how to set goals and make wise money choices.

“For many parents and grandparents, it’s hard to know the best way to raise a money smart child, this program offers them tools and information to teach money management skills that can last a lifetime,” said Michelle Kay, senior retirement specialist for Edward Jones, in a news release.

The survey found the greatest amount of concern is from those earning the highest incomes: 66% of parents earning between $40,000 and $60,000 are concerned, and 65% of those earning more than $60,000 are concerned.

Regionally Atlantic Canadians are the most concerned (64%). The lowest amount of concerned parents are found in Quebec at 58%.

Those aged 65 and older are more likely to say they are not concerned at all (26%), likely because their children are already managing their money.