What is Driving Your Budget?

Author: Hannah Henry
Financial Literacy
Published: Tuesday, 21 Nov 2017

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What information is typically requested on a car loan application?

This is one of the questions teens find when they start the Financial Test Drive, presented by Junior Achievement (JA) and American Honda Finance Corporation (AHFC).

Through research conducted for JA and AHFC, 76 percent of teens between 15-17 believe they are confident in understanding the financial responsibilities of vehicle ownership while 85 percent of parents with children 15-17 believe their child does not understand these concepts.

So how is one to learn the importance of personal finance?

"Vehicle ownership is often a teen's first real-world experience managing their own money," said David Paul, senior vice president, American Honda Finance Corporation. "The important lessons learned at this stage in their lives will help them manage their responsibilities today, as well as help them succeed in their future financial obligations and aspirations in life."

Are you up for the test? Click HERE