Yesterday, I read a new survey that was released in Seventeen magazine regarding Teens & Money.
Yes, I subscribe. Please don’t judge me.
Anyway, it was a survey of 2,000 teenagers across the U.S. Here were some of the findings with my 2 cents…
- 88% are stressed about money – That seems fairly high to me. I wonder how much of it is attributed to their parents being stressed about money or the shock value of the news media?
- 34% believe they’re in total control of their finances – I’d be interested to know what they define as being in “total control”. I’m sure some students are and hopefully with resources like BrokePiggy.com, more students will feel this confident with their money.
- 63% would rather have a career that makes a difference over one that makes a lot of money – I wonder how this would compare with their parents? Most of our parents were taught to find a career for the money rather than passion but Gen Y is the opposite.
- 40% think their parents should bail them out if they don’t have enough money or find themselves in debt – This needs to be 0%. Stop expecting someone else to bail you out for your lack of responsibility. If you want to be an independent adult, then don’t count on bailouts.
- 45% say their parents are worrying/fighting more about money lately – Studies consistently show that the #1 cause of divorce is money-related issues. My guess is that continues to increase in this economy. All the more reason to learn to handle your finances.
- 38% have had to altar their college plans because of the economic downturn – Hopefully this economy has been an eye-opening experience for students so they may attend less expensive schools to save money and avoid school loans.
Any observations you have from these numbers?
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“40% think their parents should bail them out if they don’t have enough money or find themselves in debt – This needs to be 0%. Stop expecting someone else to bail you out for your lack of responsibility. If you want to be an independent adult, then don’t count on bailouts.” -Their parents aren’t really helping to change this idea, just look at what their generation is doing on a governmental level. Almost everyone and everything is getting bailed out.
Very true Leslie…total bummer