by amy armstrong
Teens Believe Financial Education Matters But they lack confidence in their skills
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early half of American teens say they are concerned that their general lack of understanding basic financial matters will keep them from achieving economic security in their adult lives. eIn a new survey from Junior Achievement – the national organization dedicated to helping high school students learn how to run businesses and gain financial skills – 46 percent of the respondents ranging in age from 13 to 17 indicated they view their own lack of knowledge regarding 6 / ADVISORS MAGAZINE
MAY 2021
money matters as a “major” barrier to their future financial security. That percentage reflects similar numbers reported in prior years – and if looked at only in its own silo, the trend is discouraging to those working to ramp up the financial capability and knowledge of the nation’s teenage population. “It is just frustrating,” said Jack E. Kosakowski, president and CEO of Junior Achievement USA in a MSN.com April 2021 article. “Year after year, we keep seeing the same challenges, despite
people doing their very best to turn things around. The JA study conducted in late March 2021 represents a departure from previous surveys solely focused on what percentage of teens could correctly answer rudimentary financial questions. This study expanded its attention to include how the perceived lack of financial skills made the teens feel negatively regarding their potential to succeed. It isn’t that the teens don’t care about money and being proficient with its usage. They do. In fact, it appears they care a lot – 97 percent of teens
