U.S. teens rank ‘average’ in financial lit

American teenagers earned average rankings in financial literacy, according to the results of an international study by the National Endowment for Financial Education. More

To continue reading this article, please do one of the following.



financial services

U.S. teens rank ‘average’ in financial lit

Posted 7/15/14

WASHINGTON – American teenagers earned average rankings in financial literacy, according to the results of an international study by the National Endowment for Financial Education.

The international financial literacy assessment found that teenagers in the U.S. struggle to demonstrate competitive financial knowledge in the international arena, based on results from 18 countries that participated in the Programme for International Student Assessment.

The study looked at the aptitude of 15-year-olds in planning and managing finances, dealing with bank accounts and monetary transactions, understanding taxes and savings, managing risks and rewards and comprehension of consumer rights and responsibilities in financial contracts. U.S. teenagers ranked between 8th and 12th place in the financial categories.

"I cannot say I am surprised to see that the U.S. ranks in the middle of the pack internationally in terms of youth financial capability. This is a clear indication that the subject needs to be taken seriously," said Ted Beck, president and CEO of the National Endowment for Financial Education.

"This ranking gives us a reference point for how we can progress in the future and, honestly, I think we are making headway," said Beck. "There are several excellent curricula available, more states have mandates in place, government is playing a positive role, and there is substantial research that validates the effectiveness of financial education.”

Calendar
PBN Hosted
Events

Two Great Programs...One Great Event. PBN's Annual Celebration of Growth and Innovation is now underway. 2014 applications are now available. Deadline August 1st.
  • Healthiest Employers
    Celebrate with the Healthiest Employers in RI on August 14th at the Providence M ...
  • 40 Under Forty
    Thank you to our sponsors and to all those who attended the 10th Anniversary of ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement