11 Facts About Finances And Young People

  1. 93 percent of high school students who took a class on personal finance or money management said they were more likely to save.
     
  2. 59 percent of young people, ages 18 to 21, pay their bills on time every month.
     
  3. 1/3 of high school seniors say they’re “very confident” in their ability to manage their own personal finances.
     
  4. 18 percent of teens say they’ve learned about money management from their friends.
     
  5. 77 percent of teens consider themselves “super savers.” The average teen reportedly has $966 in saving.
     
  6. 52 percent of teens have a savings account. 42 percent have an ATM/Debit Card. 33 percent have a checking account.
     
  7. Most college students say they learned personal finance from their parents, but less than half of students said their parents make a consistent effort to teach them.
     
  8. 3 out of 4 college students say they made mistakes with their money when they first got to school.
     
  9. Students graduating from high schools in states that require personal finance classes have higher savings rates.
     
  10. 49 percent of teens say they’d like to learn more about money management.
     
  11. According to a 2010 survey from American Express, 1 in 5 children has indicated to a parent that “maybe we shouldn’t buy that due to the recession.”

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Sources: Jump Start, National Financial Educators Council, Charles Schwab

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