Houston Teens May Lag in Financial Literacy

April is National Financial Literacy Month. A recent survey of teenagers' financial behavior and attitudes suggests that Houston teens lag the nation by several key measures. Andrew Schneider has the story.
2011 Teens and Personal Finance PollIn their 2011 Teens and Personal Finance Survey, Junior Achievement and the Allstate Foundation examine how the recession has shaped teens attitudes towards financial literacy. Kevin Hattery is executive vice president at Junior Achievement of Southeast Texas.

“Eighty-one percent of teens say the recession has motivated them to learn more about managing money, whereas in Houston only 28% said the recession had motivated them to learn more about money management, which is just a drastic difference.”

The survey finds Houston teens are more likely than those nationally surveyed to think high school or younger is the best time to get their first credit card, but also that Houston teens were less sure of how to use credit effectively.

“The national findings are proving to be a lot tougher, and we speculate that that’s because the recession was much harder in other parts of the country than it here is in the state of Texas.”

Junior Achievement is stepping up its financial education efforts, both in the classroom and on its website, JA.org.
Bio photo of Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined KUHF in January 2011, after more than a decade as a print reporter for The Kiplinger Letter...