University of ArizonaNorton School of Family and Consumer Sciences

Are Teens Skipping Important Money Milestones?

Given the economic upheaval of the past four years, it’s no wonder teens are cynical about the traditional financial services.

Just as they started to become aware of how money works, they witnessed the housing market collapse. Many saw their parents lose jobs through no fault of their own in the recession that followed.

But there’s a fine line between healthy skepticism of financial institutions and dangerous disengagement — and teens have crossed it, says Michael Staten, director of the University of Arizona’s Take Charge America Institute for Consumer Financial Education and Research.

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