Junior Achievement USA® and The Allstate Foundation survey also indicates girls may be more eager to learn about money management than boys
Junior Achievement USA® (JA) and The Allstate Foundation’s 2014 Teens & Personal Finance Survey reveals a gender gap among teenagers’ views and habits on budgeting, college plans and future earning power.
Junior Achievement USA has conducted the Teens & Personal Finance Survey for the last 15 years, partnering with The Allstate Foundation since 2005. The survey found that 91 percent of teen girls, ages 13-18, plan to attend college after they graduate from high school, compared with 86 percent of teen boys.
“It is important for young women and men to understand their options—and the financial implications—for continuing their education,” said Catherine Milone, President, Junior Achievement of New Jersey, “As an organization that strives to empower all young people to own their economic success, JA of New Jersey will continue to help position students for success whether that means attending college, vocational school or another educational path.”
Of teens planning to attend college, girls may be giving more thought to how they financially will achieve their goals. Seventy-nine percent of teen girls (ages 13-18) plan to seek scholarships/grants to pay for college, compared to 66 percent of boys 13-18.
Nationally, 66 percent of teen girls say the rising costs of college have changed their decisions about their future college plans (versus 57 percent of teen boys), and 40 percent of teen girls say they are considering staying in-state to save money on tuition costs (versus 30 percent of teen boys).
“The Allstate Foundation partners with Junior Achievement to uncover new trends and identify solutions to the financial issues of the day for young people,” said Don Civgin, President and CEO of Allstate Financial. “The next generation has tremendous potential and we want to make sure that potential is realized. The Allstate Foundation is committed to making the next generations’ dreams and financial goals a reality.”
Since 2005, Junior Achievement and The Allstate Foundation have partnered to provide students with valuable information about personal finance in the classroom and help them apply it in their lives. The JA Economics for Success® program, created in partnership with The Allstate Foundation, has helped more than 1.2 million students set personal goals about money and make wise financial choices. The program also helps empower students to develop, plan and set goals to help protect them from unexpected financial pitfalls.
Other key findings from the survey include:
• Parents are more likely to give their sons an allowance than their daughters. Sixty-seven percent of boys compared with 59 percent of girls say they get an allowance from their parents.
• When it comes to financial literacy, 21 percent of boys and 19 percent of girls say their parents/guardians do not spend enough time talking to them about saving money. Twenty-one percent of girls and 19 percent of boys say their parents don’t spend enough time talking to them about managing money and creating a budget.
• 43 percent of teen boys think they will make more than $35,000 at their first jobs, compared with 35 percent of teen girls.
An executive summary of the 2014 Junior Achievement USA/Allstate Foundation Teens & Personal Finance Survey is available at www.ja.org.
About Junior Achievement of New Jersey
Junior Achievement of New Jersey is dedicated to giving young people the knowledge and skills they need to own their economic success, plan for their future, and make smart academic and economic choices. JA programs are delivered by corporate and community volunteers. They provide relevant, hands-on experiences that give students from kindergarten through high school the knowledge and skills in financial literacy, work readiness and entrepreneurship. JANJ reaches more than 50,000 students annually in over 71 school districts across the state of New Jersey. For more information visit us at www.janj.org. Follow us on Twitter and like us on Facebook.
About Junior Achievement USA® (JA)
Junior Achievement is the world's largest organization dedicated to giving young people the knowledge and skills they need to own their economic success, plan for their future, and make smart academic and economic choices. JA programs are delivered by corporate and community volunteers, and provide relevant, hands-on experiences that give students from kindergarten through high school knowledge and skills in financial literacy, work readiness and entrepreneurship. Today, JA reaches 4.4 million students per year in 117 markets across the United States, with an additional 5.7 million students served by operations in 120 other countries worldwide. Visit www.ja.org for more information.
About The Allstate Foundation
Established in 1952, The Allstate Foundation is an independent, charitable organization made possible by subsidiaries of The Allstate Corporation. Through partnerships with nonprofit organizations across the country, The Allstate Foundation brings the relationships, reputation and resources of Allstate to support innovative and lasting solutions that enhance people’s well-being and prosperity. With a focus on teen safe driving and building financial independence for domestic violence survivors, The Allstate Foundation also promotes safe and vital communities; tolerance, inclusion, and diversity; and economic empowerment. For more information, visit www.allstatefoundation.org.
This survey was conducted online within the United States by Harris Poll on behalf of Junior Achievement USA from February 12-24, 2014 among 1,234 youths ages 8-18. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.