An ING Direct study found that teens admit they know little about money matters, but they’re eager to learn.
A whopping 87 percent of teens said they don’t know a whole lot about personal finance. However, 35 percent said they’d like to learn how to save. And 28 percent said they know the importance of money management and want to learn. Nearly half of the respondents, 44 percent, said they’re getting their cash from a job while 30 percent said their money comes from an allowance.
Teens also think their parents are good financial role models, which should serve as encouragement for parents to jump in and teach those important economic lessons. Helping your kids develop good money habits when they’re young will help them when they go off to college and beyond.