How Good Are Teenagers With Money?
There’s no denying that education is one of the most important and useful things we can provide our children with. Unfortunately, they aren’t always given the entire education they deserve. If you mention business loans, a personal finance plan, or investments to a group of teenagers, you can see the confusion in their eyes. Most teens can’t even tell you the difference between credit and debit. This is not their fault! They’ve never been taught how to handle money or how to financially prepare for the future. With the growing amount of people picking up ridiculous amounts of credit card debt at young ages, teaching teenagers how to be responsible with finances, pay bills, and budget their money is a class that could save an entire generation of people. Teaching teenagers how to be responsible with money means parents and adults need to lead by example and be responsible with their own money. They need to pay their bills on time, invest wisely, and start climbing their way out of debt. Remember, we can benefit from financial advice just as much as teenagers. BillMyParents put together a wonderful info-graph showing exactly where teenagers stand with their knowledge of money.