TCF Bank survey: Teens feel 'clueless' about money management

9:23 PM, Oct 15, 2013   |    comments
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DENVER BUSINESS JOURNAL - Nearly half of U.S. teens feel "pretty clueless" about money management, and 90 percent say they're not learning what they need to know about managing finances from their parents, according to a survey sponsored by TCF Bank.

Findings of the Teen Financial IQ Poll - conducted by Opinion Research Corp. and announced Tuesday - also showed that 27 percent of 17-year-olds surveyed don't feel confident they will have enough financial intelligence to manage their finances by the time they graduate from high school.

At a news conference on the Auraria campus in downtown Denver Tuesday, Wayzata, Minn.-based TCF announced the results of the survey and unveiled a new online financial education curriculum for Denver-area high school students and adults. It is being rolled out at more than 100 schools across the country.

The curriculum includes eight to 10 educational sessions, tailored either for high school students or adults. Topics include savings and investments, mortgages, overdraft, payment types and credit cards, credit scores and reports, identity protection, insurance and protection, and financing higher education.

"Every high school student, and every adult, should have a firm understanding of money management," said Tom Jasper, vice chairman, TCF Bank.

(© 2013 American City Business Journals. All rights reserved.)

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