11/15/2013
One in two teens (49%) say they are “pretty clueless” about money management, according to the TCF Financial Corp. Three percent say they “know everything” about money management.
More than one in four 17-year-olds (27%) don’t feel confident that they will have the financial intelligence to manage their finances after they graduate from high school.
Fewer than half of teens (44%) currently have savings accounts, and 18% have checking accounts.
Teens primarily learn about personal finance from school (60%) and their parents (54%).
Some 43% of teens who plan on attending college say they have a specific plan to pay for higher education.
Sources: TCF Financial Corporation, Mark Goldman, 200 Lake St., E, Wayzata, MN 55391; 952-475-7050; mgoldman@tcfbank.com; www.tcfbank.com.
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