H&R BLOCK: DOLLLARS AND SENSE

There will never be a better time to get financially fit.

We educate teens about the dangers of drugs and the importance of a healthy lifestyle, but we’ve fallen short when it comes to teaching them about money. Research shows that financial stress can be just as damaging to our health as smoking, heart disease or diabetes. In fact, money is the No.1 source of stress for many of us. Changing these statistics and improving our financial health begins with talking about money at home and learning about it in schools.

Financial Tips for Teens | Advice for Parents & Teachers

Study reveals teenagers stress about family finances

Stress related to family finances has a greater effect on young people than parents believe, shows the 2009 Stress in America Study released by the American Psychological Association (APA). The study also reports teens and tweens are more likely than parents to say that their stress levels have increased in the last year. Only 2 to 5 percent of parents rated their child’s stress as extreme, while 14 percent of tweens and 28 percent of teens said they worried a lot or a great deal.

According to the study, parents’ responses about sources of stress for their children were out of sync with what children reported as sources of worry. Children were more likely to say they worried about their family’s financial difficulties than parents were to say this was a source of stress for their children (30 percent of children vs. 18 percent of parents). In general, children also were more likely to report having experienced physical symptoms associated with stress than parents were to say their children experienced such symptoms. Children reported having stress-related headaches, difficulty sleeping and changes in appetite.