Teens Feel the Economic Pinch in a Big Way, Study Says
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By SLJ Staff -- School Library Journal, 4/8/2009 2:00:00 PM
Teens are feeling the impact of the economic crisis in a big way. Some 53 percent say they’re choosing activities that cost less money, 50 percent say they talk about the economy with their friends, and 14 percent of kids ages 15 to 17 say they contribute money to their family budget, according to a new survey by Junior Achievement, which has kept a financial pulse on U.S. teens for the last decade.
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Some 18 percent of teens say they've lost a job due to the economy. |
The survey, conducted in partnership with the Allstate Foundation, an independent charitable organization funded by contributions from subsidiaries of the Allstate Corp, also found that 33 percent of teens said there seemed to be fewer jobs available, 29 percent said the economy was causing them anxiety, 18 percent say they’ve lost a job due to the economy, and 15 percent said they’ve reduced extracurricular activities as a result of the economy.
When it comes the impact at home, 77 percent say their parents talk about the economy more than they used to, with close to 50 percent saying that their parents had discussed family finances with them as a result of the downturn.
Junior Achievement and the Allstate Foundation is offering a free financial literacy program for middle-grade students called JA Economics for Success, which offers them age-appropriate lessons on money management skills, such as how to budget, save, invest, and understand the cost of credit.
They also offer 12 free downloadable personal finance teaching tools that parents can use to talk to their kids about the importance of learning and using sound money management skills.
The poll was conducted by Opinion Research Corporation the week of February 23, 2009 and surveyed 1,000 U.S. teens ages 12–17 via telephone.
