Girls of today feel optimistic about their financial futures but are less than fully knowledgeable about essential financial principles and instruments, from using credit cards to establishing good credit, according to international research from the Girl Scout Research Institute. Just 12% of the girls surveyed say they feel confident in making financial decisions.
"Our research is clearly telling us that girls understand the world. They know how important it is to be financially literate in their daily lives," said Anna Maria Chavez, CEO of Girl Scouts of the USA.
"It's also telling us that too many girls lack the confidence needed to become financially independent and responsible citizens."
The study, which surveyed more than 1,000 girls aged 8 to 17 years found that girls are averse to debt. But in order to avoid debt, these girls say they need more education about how credit works.
Nearly 40% said they don't know how to use a credit card; only 38% know what a credit score is; and just 37% know how credit card interest and fees work. Not surprisingly, a large majority (90%) say that it is important for them to learn how to manage their money.
Despite global economic uncertainty, girls are bullish about their financial futures. 88% believe they will make more money than their parents and almost all of them believe they will have jobs or careers that they enjoy. 95% say they will own their own homes.
“This generation of girls is financially empowered and independent,” said Ms Chavez. “A great majority feels gender is no barrier to what they can accomplish financially, which is great news for mum’s and dad’s. But it’s important they also get the skills and information they need to be financially literate by the time they leave school.”
There are a number of financial literacy programs available for boys and girls, some of which are listed here.
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