The first of the month means bills, bill, bills. But for the majority of young adults those words don't resonate beyond catchy lyrics to a Destiny's Child song. Only 17 percent of teenagers said they knew a lot about money management, according to a Capital One and ING DIRECT USA survey.
It's easy to understand why teenagers feel so out of touch with their finances -- they rarely hold physical money, and instead opt for electronic transactions. A TD Bank survey found that 90 percent of millennials said they use online or mobile tools for their everyday banking activities.
Despite not knowing much about personal finance, young adults want to have a better grasp of how to manage their money. A Wells Fargo study found that 79 percent of millennials think personal finance should be taught in high schools and 73 percent think it should be taught in college.
Infographic courtesy of Credit Loan.