How much are you spending on back-to-school supplies or clothes for your children this year?
I haven’t set up a budget, but being the frugal mom that I am, I’m hoping it’s as little as possible. My teenage daughter, however, may have different thoughts about this.
With her, cost is often an afterthought. A Capital One survey released this week found teens and parents have vastly different views of how much school supplies cost. Only 41 percent of the teens surveyed said they expect their parents to spend more than $100 shopping for school, but 68 percent of parents expect they will spend more than $100. To me, that says teens often don’t have a clue about how much things cost today.
A recent AskMen.com poll found that the typical modern man has few credit cards and even less debt, with the cash saved on interest charges apparently going toward his goal of $1 million in retirement savings.
A new survey from AARP reveals that more than half of American adults have made investment mistakes due to confusion by financial jargon. Another recent survey showed teens lack financial literacy. It’s not surprising that young people still have a lot to learn, but it appears that adults aren’t much better off.