10/4/22 – Helping Teens Develop Financial Literacy
- October 04 2022
- By: info@njcfe.org
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Helping Teens Develop Financial Literacy
September 29, 2022 | prnewswire.com
Developing financial knowledge and effective money management habits are important steppingstones for teenagers to become financially stable adults who aspire to build assets and achieve personal goals.
For example, most teens (88%) would like to own a home someday, according to a survey conducted by Wakefield Research on behalf of Junior Achievement USA and Fannie Mae. The survey of 1,000 teens ages 13-17 in the United States found most (85%) believe “owning a home” is part of “the good life,” compared to nearly as many adults (87%). However, fewer than half (45%) could correctly identify the definition of a home mortgage and 76% said they lacked clear understanding of credit scores.
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