How much money sense do you have?
Teenagers are growing up believing that getting into dept is a way of life. A survey of more than 1000 14- to 18-year-olds found that many have no background-knowledge about bank overdraft or credit cards. Some Teenagers believed that they can buy everything and there is no need to pay back credit card debt at all.
I know many teenagers who have no money sense. They spend all their pocket money on the most senseless things.
Personally I think I have an acceptable money sense. Some years ago I spent the most of my money on many useless things, but then I became sensible and put more and more money on my bankbook. I also buy unnecessary things today, but nowadays sanity goes ahead with passion. So I am sure, if I can keep my passion for unnecessary things down, I will have enough money to start in a wonderful life after school.
I think it is necessary to teach teenagers about personal finance, but not only in higher grades, you also have to teach it to the students in primary school, slowly but surely.
But this all makes no sense if the parents do not show their children how to deal with money, what responsibility it means to have money. This is why many children have no money sense, they copy all the bad qualities from their parents.