subject: If you ever wondered if your teenager would learn how to handle money you can't afford to miss this [print this page] I've Heard Them All Countless Stories from Frustrated Parents about Their Teens Running Through Money.
You realized long ago that there's no "magic bullet". No single secret that would instantly teach your teenager about money and how to handle money. But you keep looking knowing deep in your heart how vital this subject is to them.
Scary Statistics About Teens and Money... 1 out of 3 high school seniors use credit cards. 50% of these students have credit cards in their own name.
- Only 28% of high school have a checking and savings account.
- The average college freshman starts college with an average credit card balance of $1,585.
- High school seniors could only answer 47% of financial literacy questions.
- Individuals between 18 -24 spend nearly 30% of their monthly income to pay back debt.
- The typical college student has about $3,300 of credit card debt
Source: Jump Start Coalition, Nellie Mae
Being a Parent is Hard!
You have to work a full-time job, chauffer the kids, pay the bills and manage every other distraction that fills up your day! Teaching your teen about the power of money is the last thing on your mind.
If your teenager doesn't learn the proven strategies of money from you who will they learn it from?
So where will they learn about it?
Will they learn about it from their teachers in school? Maybe
Will a stockbroker or financial advisor take the time to teach them? - No!
Will they learn about it from their friends? - Hope Not!
By now you may be saying to yourself, "I barely have the time in the day to balance my check bookhow can I teach my teen about money".
So What Should You Do?
If you ever wondered if your teenager would learn how to handle money you can't afford to miss this
