BUFFALO, N.Y. (WKBW) — A third of teens say they believe they don't think they will be financially independent of their parents by the time they turn 30-years-old.
That's according to a survey from Junior Achievement and Citizens Bank. One-thousand teens between the ages of 13 and 18 took part in the survey.
“These survey findings show a disconcerting lack of confidence among teens when it comes to achieving financial goals,” said Laurie Mahoney, the president of Junior Achievement of Western New York.
On the flip side, 63-percent of teens believe they will be financially independent of their parents by the age of 30.
When it comes to financial goals, 62-percent of teens say finding a job is their biggest priority.
Other findings the survey found include:
- Most teens (74-percent) believe they will own a car by the time they are 30, while 60-percent believe they will own a home.
- Most teens (64-percent) turn to their parents or caregivers for financial advice, followed by family members (38-percent), friends (30-percent) and online resources, such as articles and social media (27-percent)
- Most teens making money have some sort of bank account (61-percent), while the rest save their money unbanked, such as in a shoebox, piggybank or other method.
- Among those currently in school, more female respondents (40-percent) than males (34-percent) believed they would make less than $35,000 in their first full-time job after high school.
- More teens (22-percent) earned money in 2019 by working independently, compared to 2018 (16-percent). Most teens depend on gifts for spending money (64-percent), while many receive allowances for doing chores (32-percent).
The survey was conducted by Wakefield Research using an email invitation and an online survey. The teens surveyed are not enrolled in college.
