Financial Literacy Statistics
| Financial Literacy | Source |
| About 40 percent of families regularly spend $1.22 for every $1 earned. | U.S. Commerce Department's Bureau of Economic Analysis |
| As few as 10 hours of classroom instruction on financial literacy could provide enough substantial knowledge to affect how teens handle their money and improve their actual financial behavior in a matter of months, as opposed to taking years during adulthood. | U.S. Department of Agriculture Cooperative State Research, Education, and Extension Service. “Teens Respond Well to Financial Education, Study Shows: Financial Knowledge and Behavior Improve Immediately— and Are Retained." July 18, 2007. |
| Only 14 percent of teens have taken a personal finance class in school and 69 percent of teens say that what they know about managing money, they learned from their parents. | Capital One."Capital One's Annual Survey Finds Back-to-School Shopping Will Be Impacted by Economy.” July 21 2008. |
| According to a 2008 study by the Boys & Girls Clubs of America & the Charles Schwab Foundation, teens who reported learning about managing savings and checking accounts were more likely to report having opened both. | Boys & Girls Clubs of America and Charles Schwab Foundation. “Report From Boys & Girls Clubs of America and Charles Schwab Foundation Shows Increased Knowledge Among Teens Leads to Positive Behavioral Change.” Jan. 27, 2009. |
| Teens who learned to track spending (50 percent) were also more likely to report having developed a budget vs. those who learned little or nothing (29 percent). | Boys & Girls Clubs of America and Charles Schwab Foundation. “Report From Boys & Girls Clubs of America and Charles Schwab Foundation Shows Increased Knowledge Among Teens Leads to Positive Behavioral Change.” Jan. 27, 2009. |
| Half of teens surveyed in a 2008 Capital One survey expressed an interest in learning more about money managing. Seventy-six percent said they wanted to learn about the basics of finance because it will help them make better financial decisions. | Capital One. “Capital One's Annual Survey Finds Back-to-School Shopping Will Be Impacted by Economy.” July 21, 2008. |
| In Schwab’s 2007 Teens & Money Survey, 60 percent of teens identified budgeting (including saving and investing) as a top priority. | Charles Schwab. “Schwab ‘Parents & Money’ Survey Offers Prescription for Raising Financially Healthy Kids.” Mar. 26, 2008 |
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