Money management. It’s a subject that is not on the post-secondary curriculum but it should be.
A back-to-school survey of post-secondary students conducted for the Royal Bank offers a view of the changing landscape in financial management over the last ten years for those who entering the final stages of their education.
And the participants were quite frank with almost all of them – 96 per cent – saying they were not good at handling money. And half said they were much better at spending money than saving it – clearly there will be a big talent pool for political candidates in the years ahead based on that admission.
Nonetheless, in the ten years since the last time they did this survey, the number of post-secondary student living with their parents has risen from one-third to almost half and the number assuming their parents will look after their financial needs has risen from 29 per cent to nearly 50 per cent.
A growing percentage expect student debt of $20,000 upon graduation prompting them to report they are planning to push goals, such as marriage and home ownership further into the future.
