Teens Must Develop Financial Management Skills

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Recommended: Effects of the media on young adults

"Come gather 'round people Wherever you roam And admit that the waters Around you have grown And accept it that soon You'll be drenched to the bone If your time to you Is worth savin' Then you better start swimmin' Or you'll sink like a stone For the times they are a-changin'" Bob Dylan - "The Times They Are A-changin" While upper class students can relax and reap the benefits of living large in a large world, students in the lower or middle classes are struggling to keep up with society’s transition to the newer, better, and much more expensive living standards of today. With doubling student-loan rates, lower entry-position salary, a smaller job market, and a world that’s filled with enticing commercial marketing, it's never been a more important time for teens to develop good financial management skills. Today’s society absolutely loves bigger, better, and has standards different to those in the past. In the past, the world that one lives in, and more specifically speaking ones respectable social class set a living standard. There weren’t T.V. shows documenting the lives of the rich and famous, shopping malls filled with designer brands wasn’t where kids would casually hangout, and the latest in modern technology wasn’t sold to anyone for a few hundred dollars. Today, this is all passé and the lives of the disgustingly wealthy are documented in shows such as Keeping up with the Kardashians, shopping malls are like a second home to impressionable children, and the latest Apple device has become to upmost standard and are available for little to nothing upon signing a contract. With children spending free time in shopping malls, it’s almost like as if owning this expensive merchandise in the stores surrounding ... ... middle of paper ... ...sibility, financial failure will be one less thing for them to worry about. Works Cited Bortz, Daniel. "Why Most High Schoolers Don't Know How to Manage Their Money." US News: Money. US News, 9 Oct. 2012. Web. 05 Nov. 2013. Groux, Catherine. "Students Show Poor Spending Habits, Little Knowledge of Financial Aid." U.S. News University Directory. U.S. News, 15 May 2013. Web. 05 Nov. 2013. Nesvisky, Matt. "The Career Effects Of Graduating In A Recession." The Career Effects Of Graduating In A Recession. The National Bureau of Economic Research, n.d. Web. 05 Nov. 2013. Wagstaff, Keith. "3 Terrible Realities Facing Today's College Students." The Week: Voices. The Week, 1 July 2013. Web. 05 Nov. 2013. Yarrow, Kit, and Jayne O'Donnell. Gen BuY: How Tweens, Teens, and Twenty-Somethings Are Revolutionizing Retail. San Francisco: Jossey-Bass, 2009. Print.

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