Did You Know?4 $ 70% of parents said they talked with their teens about credit and using credit cards wisely…but fewer than 44% of their own teenage children said their parents had talked to them about credit cards. $ 71% of teens reported learning about money management from parents… but only 26% of parents (of children 5-26) reported feeling prepared to teach their kids about basic personal finances. $ More than 83% of high school and middle school students expected to do back-to-school shopping with their parents…but 91% said their parents never talked about finances related to going back to school. $ Fewer than 40% of parents said they talked about credit cards, loans, and debt and their own family finances with their kids...and even fewer talked with their children about how to invest their money. $ 80% of parents believed that schools provided classes on money management and budgeting… and 43% of parents believed that schools should be doing more to educate kids about money. What would make it difficult or easy to talk to your parents or other adults ‘ about money? What have you already heard or observed about using credit cards? Ask a parent or other adult the following questions: • Where did you learn to manage money? • What do you wish you had been taught about managing money? • What help with managing money do you wish you had as a teen? • What would be helpful for me to know about using credit cards and borrowing money? 4 Transforming the Financial Services Landscape in Indiana—Networks Financial Institute | NFI. Web. www.networksfinancialinstitute.org Making the money CONTINUED 6 | LESSON 1 | WHY DOES MONEY MATTER?