A new study from the Investor Education Fund shows 70% of Ontario high school students understand that learning about money management is important.
Further, 69% of students think money management needs to be taught in classrooms, a 12% increase from a similar study conducted in 2009.
“Learning to use a budget, manage debt responsibly and save money are essential skills for young adults,” says Tom Hamza, President of IEF. “Students will stand a much better chance of long-term financial success if their schools prepare them with these skills.”
Only 40% of students say they’re prepared to deal with their finances after they graduate, and only 30% of students are saving for post-secondary education — even though they cite tuition and other related costs as their biggest money worry.
Students who responded they have all the personal-finance info they need are twice as likely to “always budget.”