A recent test evaluated 16 to 19 year olds in New Zealand and found that these teens were good at identifying risks and money but have a lack of skills around budgeting and financial management.
The test undertaken by Massey University’s Fin-Ed Centre was developed by high school teachers for an annual financial health check.
Budgeting was a particularly poorly scored part of the test. The average score was 37 out of 100.
Financial knowledge was also bad, saving and investing were particularly bad areas where the average score was just 45 out of 100.
Read more at: http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=11595323