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US teens behind when it comes to money matters

UNDATED (WKRC) -- A study from the Organisation for Economic Co-operation and Development U.S. teens are behind when it comes to knowledge of finances and wealth-building.

The OECD tested more than 29,000 teens around the world on financial literacy.

Teens were tested on simple mentary transactions like using bank cards and checks. They were also tested on their ability to plan and manage an income, interest rates, credit agreements and investing products.

Chinese teens finished first , followed by Flemish Belgium, Estonia, Australia, New Zealand and the Czech Republic. The U.S. scored ninth. Italy and Colombia finished at the bottom.

According to the survey, 17.8 percent of U.S. participants didn't reach the baseline proficiency level. For China it was only 1.6 percent.



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