High School Seniors Unable To Manage Personal Finances

One of the most important life skills a graduating high school student can have is money management. However, a recent survey found that they are not equipped to do that.

The Capital One survey found that many high school seniors are not confident in their abilities to manage money. Close to 45 percent of them said they haven't been taught how to take care of their personal finances. This may lead to unwise decisions which might require debt negotiation later in life.

The survey did find that those who did receive some financial education - whether at home or in the classroom - believed they were better-equipped to navigate matters such as personal banking. One-fifth of students said they've had conversation with their parents about money management.

Capital One financial education director Shelley Solheim said that "our survey clearly shows the value of financial education in helping young adults build confidence in their ability to manage money on their own. Conversations help young adults develop good financial habits, which are building blocks to economic success and self-sufficiency."

If financial literacy education classes aren't available at a child's school, parents should see if local community centers offer them.