Majority of Teens Talk to Their Parents About Money — But Still Don’t Feel Confident in Financial Literacy

Teens are talking about money, responsible spending and saving, and career goals with their parents, but it might not be enough. A recent SheKnows Teen Council Financial Literacy survey found that teens don’t feel prepared or confident when it comes to money — even after having plenty of conversations about it.

In the Financial Literacy survey, we asked teens about their banking habits, spending, tracking, confidence with financial concepts, and future expectations and found some surprising trends. For example, only 60 percent of teens have a savings account at all, despite 76 percent having a checking account and 84 percent carrying a personal debit card. A whopping 20 percent of teens have their own credit card (!!), while 40 percent have access to a parent’s card. As far as how they ge