Teen Financial Education Framework

Abstract

High schoolers and pre-adults have a lot of financial decisions to make throughout their life, but most of them do not really know the effect of money or how their decisions could affect or change their and others’ lives. Based on this, I created the Teen Financial Education Framework (TFEF) to show how social pressure and lack of financial awareness lead to spending choices. I surveyed 50 high school students and split them into two groups: one group received financial knowledge on personal finance and stories about families who needed the money, while the other group did not. The results: the awareness group put 70% of their $1,000 into savings while the control group put 20% of their $1,000 into savings, showing clear difference and growth. This proves that even a little awareness can change teen minds significantly and how financial awareness can influence one’s life.

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