12:18 pm June 17, 2010, by Rana Cash
Results of a Capital One survey released today found that nearly 45 percent of all high school seniors polled say they are unsure or unprepared to manage their own banking and personal finances. However, of those who have taken a personal finance class — 30 percent of the sample — 75 percent said they feel prepared to manage their finances.
Outside of the classroom, students exposed to financial literacy at home are overwhelmingly more confident with money matters than their peers who do not learn about money in the home. One out of five students, 20 percent, polled say they talk to their parents about money management and personal finance issues “frequently,” while 45 percent said they sometimes ask questions and 34 percent said they never talk to their parents about money, or do so only when necessary. Of those who do so frequently, 71 percent rate themselves as “highly” or “very” knowledgeable about personal finance and 81 percent feel prepared to manage their own finances and banking.
Real word experience, or having a job, also prepares young adults for financial responsibilities, with 81 percent of high school seniors surveyed reporting that they have a bank account and most are saving for the future.
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