Tax day: Financial literacy lacking among teens

The American Parents Coalition is advocating for financial literacy education for kids, arguing that studies show students who go through these classes are less likely to fall into financial trouble.

In a message to parents called “The Lookout,” the group points to a survey showing the majority of teenagers feel unprepared and want more financial training.

“In fact, three out of four teenagers admit they don’t understand basic financial concepts,” the group said in its message, first obtained by The Center Square, and sent to parents Tuesday. “Half can’t explain what a 401(k) is, and more than one in four can’t tell the difference between a credit card and a debit card. Make no mistake, financial literacy programs are crucial and can be integrated into virtually evert grade level, from elementary and middle school to high school and college. The problem is many schools do not incorporate or require classes that teach these practical skills.”

Read more at The Center Square.