Half of high school graduates can't manage money

By Angela Hawke on Jun 21st, 2010

One of the most important things a young person should know is how to manage their personal finances. However, a recent survey has found that nearly half of all high school seniors are unable to do so.

While 45 percent of high school seniors said they were unsure about how to manage money, those who did receive some financial education expressed being more confident in this area, Capital One said. The survey found that two-thirds of students who received training said they were very knowledgeable by the end of it and that 81 percent felt they could handle their own personal banking.

Capital One financial education director Shelley Solheim said "most students report that their parents are their primary resource for information about personal finance. These conversations help young adults develop good financial habits, which are building blocks to economic success and self-sufficiency."

Learning how to manage money when a person is young can help them avoid making bad financial decisions later in life that may lead them to staggering amounts of debt and even bankruptcy.

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