If you are interested in how teens are learning about money and their feelings about money, the Charles Schwab Teens & Money 2007 Survey is worth reading.
Key Points I Took Away From Reading The Survey
- Teens believe that they'll be earning an average salary of $145,500 PER YEAR! WOW! Talk about unrealistic!
- 1 in 4 teens agree that "I am young, so saving money isn't that important." Have they heard about compound interest?
- Teens assert they don't like the way it feels to owe someone money, with 88% agreeing with this statement. It does not get any better the older you get, either!
- Most teens (51%) agree that it is easier to buy things with a credit card than cash. Yes, but is it easier when you are paying it back with compound interest working AGAINST you?
- One in four (25%) say they sometimes feel guilty for being a financial burden to their parents. So sad!
- More than half (56%) are concerned about their parents'/guardians' financial well-being. With good reason!
- 89% say they want to learn how to make money grow. AWESOME!
- Only one in three teens (30%) believe that their parent/guardians are concerned with making sure that they are learning the basics of money management. This is why YOU need to teach your children! Few others are going to teach them with their best interest at heart!
What facts stood out to you?