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Teen leader Richard Whitworth, 18, said he enjoys teaching younger kids about money, and he’s learned a few things himself in the process. He said, for example, he learned more about the stock market and investing in oneself.
Whitworth hopes the lessons help the younger kids for years to come.
U.S. students in middle on financial knowhow
Washington » The United States runs in the middle of the pack when it comes to the financial knowledge and skills of 15-year-old boys and girls, according to an international study released Wednesday.
China’s financial hub of Shanghai had the highest average score for teens who participated in the 2012 testing for the Paris-based Organization for Economic Cooperation and Development. A total of 18 countries and economies were studied in the program’s first assessment of financial literacy of teens.
Shanghai was followed by the Flemish Community of Belgium, Estonia, Australia, New Zealand, the Czech Republic, Poland, Latvia, the U.S., Russia and France.
At the bottom of the list: Croatia, Israel, the Slovak Republic, Italy and Colombia.
The easiest questions asked students to display basic financial literacy skills, such as comparing prices per unit to determine which had a better value. The most difficult asked students to analyze more complicated scenarios, such as reviewing two loan proposals with differing rates and terms and choosing the better offer.
"It’s better to learn now," he said, "than in the future know that it’s too late."
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