Financial Firsts: When Do People Take Their First Financial Steps?

[AARPLynne]

Most Americans start making important financial decisions, such as getting a credit card, at a relatively early age. A new AARP Research survey finds many young adults take these steps without being well informed, triggering lasting consequences.

[retiredtraveler]

Oh jeez........ I see this in some of my nieces and nephews. Relatively educated, bright people who had no idea how much expense they would incur renting, paying for a car, eating, purchasing household items/food/clothing, paying utilities.......They never bothered to create a budget. Then you have the usual array of stats showing how few people understand compound interest and how late fees on credit cards rise exponentially. I was always a 'numbers' person, and had a basic knowledge of saving and investing by the time I graduated college, so I can't relate to this.

   Being an old curmudgeon, I mostly blame it on spending all their free time on Facebook instead of using their smart phones to actually become smart.........