Junior Achievement has shared findings from its “2013 Teens and Personal Finance Survey”. The survey included more than 1000 teens age 14-18 and was aimed to gain insight into today’s teens’ attitudes about money.
Today’s Teens:
Are optimistic about their financial future.
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- When asked how their own financial future will compare to their parents:
- 36% expect to be better off than their parents.
- 29% expect to be as well off as their parents.
- When asked how their own financial future will compare to their parents:
Are expecting a little more help from mom and dad.
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- When asked what age they expect to support themselves financially:
- 25% expected age 25-27 (this has more than doubled since 2011).
- 59% expected age 18-24 (down 16% from 2011).
- When asked what age they expect to support themselves financially:
Are lacking abilities to budget, use credit cards and invest.
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- Over 20% reported being unsure about their ability in the three separate categories of budgeting, using credit cards and investing.
Are not saving for college.
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- 9% of teens are saving for college.
- Even though 52% think students borrow too much to pay for college, half don’t know how much they will need to borrow for college.
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