Kids’ Money Knowledge and Habits
Many parents are satisfied with how their teens manage money. Those finding are from a poll of about 800 parents. Of these parents, 83 percent say they are satisfied with their teen's spending choices and priorities.
Parents say they trust their teens’ understanding of each of the following areas:2
Reasons for Concern
Yet there are reasons for concern:
- One in six teenagers spends most of his or her money as soon as he or she gets it.5
- 29 percent of teenagers say they are in debt.3
- 34 percent of high school seniors say they are either unsure or unprepared to manage their money.1
- One study finds that high school seniors score just 48 out of 100 on a test of financial literacy.4
5. Kwon, E. (2010, December 17). Ten ways to talk with your teens about money. MyParenTime.com.