As they regularly remind us, teens know everything. Money is no exception.
In a recent Capital One 360 poll, 87% of 12- to 17-year-olds reported knowing at least an average amount about managing finances. Or not. That study also found that 24% of them think a debit card is used to borrow cash.
And a Charles Schwab poll found that fewer than a third of teens understand how credit card interest works and four in 10 can't budget.
Parents' money talks with high schoolers tend to start and end with "How much do you need?"
"The more you teach your kids before they go off on their own, the better prepared they are," says Daniel Hebert of Jump$tart, a coalition promoting financial literacy.
The most critical skills to impart:
Read them here.