Why teens fail at managing money?
Because they often leave high school with no education in personal finance, young people must overcome a steep learning curve when they enter the adult world.
I read a report where teenagers are graduating highschool without the basic knowledge of how to balance a checkbook. No wonder they get killed with credit card debt and a host of other financial issues.
Odds are your children will also graduate from high school without being taught basic money lessons, including how to create a budget or write a check. Though the recession has raised awareness about economic issues, it appears those heightened concerns have prompted few changes.