New study suggests that teens + money = big trouble!
Posted on 07 April 2006 by Lord Brar
They say that old habits die hard. With the kind of habits that teenagers are developing with managing money, it seems like they are going to be in a big-big trouble soon.
CNN Money is reporting a survey of High school seniors by Jump$tart Coalition for Personal Financial Literacy who, on average, answered only 52.4 percent of the answers correctly on a financial survey. That’s despite the classes on investing and personal finance that they are being made to take.
But wait! Listen to this — students who had taken a money management or personal finance class actually fared worse than those who did not.
Another point to note is that while this figure is up from 52.3 percent when the survey was last conducted two years ago however down from 57.3 percent in 1997.
Know what, it is easier to make money but it is more difficult to keep and grow that earned money. That’s why they have a saying — A fool and his money don’t last long together.
My suggestion to these kids — go and read Rich Dad Poor Dad by Robert Kiyosaki at least two times. Period.
