Comments on: Survey Says: Teenager Credit Cards - Perfectly Stupid http://money-and-investing.dogberrypatch.com/archives/survey-says-teenager-credit-cards-perfectly-stupid/ Learning to Master Money, Destroy Debt, and Increase Investments! Sat, 22 Nov 2008 08:46:03 +0000 http://wordpress.org/?v=2.1.3 By: MoneyMoney101 Simple Money Management http://money-and-investing.dogberrypatch.com/archives/survey-says-teenager-credit-cards-perfectly-stupid/#comment-59 MoneyMoney101 Simple Money Management Mon, 14 Aug 2006 19:20:38 +0000 http://money-and-investing.dogberrypatch.com/archives/survey-says-teenager-credit-cards-perfectly-stupid/#comment-59 <p>If I only knew now what I knew then……. Know one ever told me that starting at age 25 if I saved $65 a month by age 65 I’d have a million dollars. And know one ever really taught me the importance or the principle of savings. Really, if I had to choose what my parents taught me about money—how to save it, how to make it or how to spend it—I’d probably have to say, what they taught me the most is how to spend money.</p> <p>For many preteens and teens today, although bright, educated and smart, they fail when it comes to basic, simple money management skills. 4 out of 5 teenagers can not tell you what goes on inside a bank. And 73% didn’t know that a stock would yield more over time than a savings account, according to Jump $tart. Why? Because finance and money management are not being taught in schools or is just now starting to be taught in certain areas of the country in high schools. Plus, high schools are experiencing the largest dropout rate in their history—1 dropout every 7 seconds or 1 million drop outs in 2005. Plus, a minimum wage increase has just been turned down and wage stagnation is at its worst in 30 years.</p> <p>If you don’t take the time to teach your children the principles of money NO ONE ELSE WILL! MoneyMoney101 for preteens and teens is coming! Stay tuned.</p> If I only knew now what I knew then……. Know one ever told me that starting at age 25 if I saved $65 a month by age 65 I’d have a million dollars. And know one ever really taught me the importance or the principle of savings. Really, if I had to choose what my parents taught me about money—how to save it, how to make it or how to spend it—I’d probably have to say, what they taught me the most is how to spend money.

For many preteens and teens today, although bright, educated and smart, they fail when it comes to basic, simple money management skills. 4 out of 5 teenagers can not tell you what goes on inside a bank. And 73% didn’t know that a stock would yield more over time than a savings account, according to Jump $tart. Why? Because finance and money management are not being taught in schools or is just now starting to be taught in certain areas of the country in high schools. Plus, high schools are experiencing the largest dropout rate in their history—1 dropout every 7 seconds or 1 million drop outs in 2005. Plus, a minimum wage increase has just been turned down and wage stagnation is at its worst in 30 years.

If you don’t take the time to teach your children the principles of money NO ONE ELSE WILL! MoneyMoney101 for preteens and teens is coming! Stay tuned.

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