According to a recent survey, teenagers don’t know much when it comes to money. High school seniors were given a test on basic economics and finance. The average test score was a mere 52.4%. (Ouch!)
Here are some of the results from the survey:
“Only 14.2 percent correctly said that stocks likely would offer the higher growth over 18 years of saving for a child's education.
44.8 percent thought a U.S. savings bond (a very conservative investment) would offer the highest growth.”
“Just 22.7 percent knew that income tax may be charged on the interest earned from a savings account at a bank if a person's income is high enough.”
Should schools require finance courses to graduate? I think so. Many students will never use 1/2 of what they are tought in school but 100% of them need to understand finances! I’m curious what you think about the issue. Please share your thoughts.
Thursday, April 06, 2006
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