Teen Survey on Finances demonstrates need for more Guidance

Money - BSN

(Best Syndication News) - Teens are not money savvy and parents were not confident discussing finances with them, a new survey found. A survey conducted on behalf of Capital One and ING DIRECT USA found that around one out of four teens between 12 and 17 years of age thought incorrectly that a debit card was borrowing money from the bank.

The survey was conducted to learn more about how teens spend and save their money. In the survey, 35 percent of the teens said that the most important financial lesson they wanted to learn is how to save their money. Another 28 percent wanted to learn how to budget.

Surprisingly, around 50 percent of teen girls, earn money from work outside of the home. Only 38 percent of the teen boys work outside of the home to earn money.

Parents are more willing to talk about sex and alcohol than they do with talking about money and finances. Around 35 percent of the parents felt more prepared to talk about sex and alcohol, while only 26 percent felt prepared to talk about money issues. One in five (21 percent) of the parents rated themselves as being fair or poor examples of financial role models.

A website collaboration between Capital One and Search Institute can be found at http://www.bankit.com. This website offers lessons on how to manage money for young adults, family and more.

By: Dave Reddy

Share/Save/Bookmark

      

Post to Facebook

Important: The material on Best Syndication is for informational purposes only and is not meant to be advice. Authors may have or will receive monetary compensation from the company's product/s mentioned. You should always seek professional advice before making any legal, financial or medical decisions and this website cannot substitute or replace any trained professional consultation.
Use of this site means that you agree to our TERMS OF SERVICE

Advertise On This Site
Copyright © 2006-2015 By Best Syndication All Rights Reserved