Happy Graduation to the Teens of the Great Recession
December 2007 is the month that officially marked the beginning of the recent economic recession.
Children who entered their teens at that time are now celebrating their 18th birthdays and will be graduating from high school.
Their ideas about money, work, education, capitalism, entrepreneurship and the American Dream are being forged during some of the toughest economic times in recent history.
56% of teens 14-18 in 2012 think they will be as financially well-off or better than their parents.
- 30% think they will be better off.
- 26% think they will be as well off.
- 14% think they will be less well off.
- 30% are unsure.
93% of teens 16-18 say their family was affected by the recession.
- 38% say their family was affected a lot.
- 55% say their family was affected a little.
- 7% say their family was not affected at all.
75% of teens say their parents have talked to them about their family’s situation in the past year.
73% of teens say it is important to have enough emergency savings in case times get tough.
64% of teens say they are more grateful now for what they have.
58% of teens say they are less likely to ask for things that they want.
56% of teens say have a greater appreciation for how hard their parents work.
49% of teens say it is important to understand all the costs and conditions before buying a house.
$73,000 is what teens expect their average starting salary to be.
