Teenagers today receive little to no education in the area of personal finance. Very few states offer any classes about money management and even fewer have a graduation requirement involving personal finance classes.
Unfortunately, for most teens, these skills are not taught in their home either.
The results of this lack of education in basic money management skills results in teens who make poor financial decisions that can cripple them financially for the rest of their lives. Teens need to be exposed to the information they need to make wise financial decisions now and avoid mistakes like taking on massive student loan debt or going into credit card debt because they do not understand the long term consequences of living beyond their means.