In a recent poll, more than 80 percent of teens said they know little to nothing about managing money, and another study found that more than half of teens are not keeping track of where their money goes on a regular basis.
BUT- one local boy is defying those numbers and starting a financial plan for his future.
I sat down with 17-year-old Connor Kelley on his progress so far, and what drives him to budget his money.
Teen money saver Connor Kelley says, “Even now, I’m starting to notice how important finances are, especially money, because literally you can’t live without money.”
17-year-old Connor Kelley is defying the odds. After being in a personal finance class, and having help from his parents he is starting to plan financially for the future— something he isn’t used to seeing a lot in his age group.
Teen money saver Connor Kelley says, “Some of the people taking personal finance are doing it, but the majority of people in high school aren’t doing it.”
Connor has personally witnessed how debt can affect people in particular since his parents have been through it- saying he doesn’t want that future for himself.
Teen money saver Connor Kelley says, “Seeing how my parents and other parents struggling with debt, and not having to worry about that.”
Connor’s father Jacob Kelley says, “It’s really good. One of the things every parent should worry about is the future of their child, and when we know the kinds of troubles we should get into when you get over your head in debt it’s nice to know that he’s starting to build that foundation to start that.”
And Connor is spreading the importance of financial stability, including when you’re young.
Teen money saver Connor Kelley says, “You need to take finances seriously when you’re young, because if you don’t you could fall into a debt trap, like a lot of students and adults do, especially with student loans.”
Connor has recently gotten a job to help him save money, and he hopes to go to west point for college, where he can get his education fully paid.