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More 17-year olds in 2011 said that learning more about money management is one of their top priorities (80% vs. 53% in 2007)
Charles Schwab 2011 Teens & Money Survey Findings
Only 32% say they know how credit card interest and fees work (vs. 43% in 2007).
Charles Schwab 2011 Teens & Money Survey Findings
74% of 18-year-olds report their parents/guardians have taught them how to use a credit card responsibly
Charles Schwab 2011 Teens & Money Survey Findings
31% in 2007 said they knew whether a check cashing service/store is good to use vs. 25% today.
Charles Schwab 2011 Teens & Money Survey Findings
51% in 2007 said they knew how to balance a checkbook or check the accuracy of a bank statement, compared to 35% in 2011
Charles Schwab 2011 Teens & Money Survey Findings
67% of teens in 2007 reported they knew how to write a check vs. 60% in 2011
Charles Schwab 2011 Teens & Money Survey Findings
43% of teens said they had a car in 2007 vs. 27% in 2011
Charles Schwab 2011 Teens & Money Survey Findings
75% of 18-year olds had a checking account in 2007, whereas only 51% have one now
Charles Schwab 2011 Teens & Money Survey Findings
72% of 18-year olds had a savings account in 2007, whereas only 58% report having one now
Charles Schwab 2011 Teens & Money Survey Findings
A greater percentage of teens (55%) now spend less than $20 per week, compared with 41% in 2007
Charles Schwab 2011 Teens & Money Survey Findings
Money management falls right between drugs/alcohol and dating/sex as topics parents talk to their teens about a lot
Charles Schwab 2011 Teens & Money Survey Findings
Teens are much more likely to say they have no idea of how much car insurance costs (44%) vs. the cost of an iPod (6%)
Charles Schwab 2011 Teens & Money Survey Findings
Only 15% say “how much I can earn,” 11% “how much good I can do for people” and 3% “how easy it is to get a job in a given profession” will determine their choice
Charles Schwab 2011 Teens & Money Survey Findings
65% teens say “how passionate I am about the work itself” will determine their career choice
Charles Schwab 2011 Teens & Money Survey Findings
Only 18% say “My generation has a greater ability to make money.” (Yet 59% believe they will do better financially than their parents)
Charles Schwab 2011 Teens & Money Survey Findings
46% say there’s greater willingness to spend money by my generation
Charles Schwab 2011 Teens & Money Survey Findings
51% of teens say there are more financial choices and decisions to make
Charles Schwab 2011 Teens & Money Survey Findings
53% of teens agree that people are more obsessed with money these days
Charles Schwab 2011 Teens & Money Survey Findings