CHICOPEE, Mass. (WWLP) – A new survey found one-third of teens do not believe they will be financially independent from their parents by the time they’re 30.
The survey conducted by citizens bank and Junior achievement heard from teens ages 13 to 18. The survey found some of their greatest concerns were being able to afford to live on their own, and being able to find a well paying and fulfilling job.
Junior Achievement of Western Massachusetts says the lack of confidence in their financial future is a concerning trend and highlights the importance of teaching young people about finances early on. Junior Achievement said for young people, student loan debt is another major concern.
Jennifer Connolly told 22News, “With that amount, the students really have to understand what their options are, what different loans are, whether a Pell Grant. What they’re signing when they get their financial bill or offers at different colleges.”
In Massachusetts, more help is on the way for young people. Gov. Baker signed a new law in January that will create standards for teaching financial literacy in schools.