Millennial’s Lack of Personal Finance Knowledge Disasterous for the Economy



By Audrey Esther

The millennial generation’s lack of knowledge about how to manage their personal finances could be ‘disastrous for the economy’, say financial experts.
“As a parent it’s scary. Seeing these kids it’s scary,” said Nixa High School teacher, Pam Stringer.
That is when teachers like Stringer learn just how little their millennial-aged students know about personal finance.
“They are struggling with savings. They are struggling paying debt. They don’t realize that that credit that they’re using actually comes at a price,” Stringer said.
A recent study by Price Waterhouse Cooper and George Washington University finds that of the more than 5,500 millennials, or those born between the early 80s and mid-90s, only 24% demonstrated basic financial knowledge.

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