Summary
A new financial literacy test shows U.S. teens are struggling with basic money skills. Teens aged 15 to 18 scored an average of 64.39%, below the 70% passing benchmark, with about half failing the exam.
The test, administered to more than 61,000 students, highlights gaps in understanding budgeting, saving, and credit. Scores improve with age, suggesting experience builds knowledge. Experts warn that many teens remain unprepared for real-world financial decisions and urge schools to expand financial education programs to equip young people better to manage money responsibly and avoid costly mistakes.
Money
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