A recent study by a couple of big banks reveals that whatever financial education youngsters are receiving, some of them aren’t properly absorbing the lessons, writes Eric Harrison in Family.
The Capital One Direct USA survey in March showed almost a quarter of the teens surveyed don’t understand the difference between debit and credit cards — 24 percent incorrectly believe that using a debit card is borrowing the bank’s money rather than using their own.
“Fortunately, more and more schools are incorporating personal finance into their curriculum,” says financial adviser Mary Ann Campbell, who teaches personal and family finance at the University of Central Arkansas in Conway, and who calls herself an “edu-tainer,” via her website, MoneyMagic.com. See tomorrow’s Arkansas Democrat-Gazette for more about how Arkansas teens are (or aren’t) learning about finances.