In fact, only one-in-four college students (23 percent) say they seek out personal financial management information and incorporate it into their spending and saving habits frequently or often, compared with two-in-five (41 percent) who say they rarely or never do so. The survey found that, despite the nearly universal feeling among college students about the importance of personal financial management skills – 99 percent said they were either extremely or very important –they are not actively taking steps to develop their knowledge in this area. The survey, conducted online among 751 college students who will be enrolled in fall of 2015, on behalf of the American Institute of CPAs by Harris Poll in August, highlights the differences between students’ perception of their financial literacy skills and the reality. In addition, thirty-eight percent said that they had borrowed money from friends or family in the last year and more than one-in-ten (11 percent) missed a bill payment. However, almost half of college students (48 percent) reported having less than $100 in their bank account at some point in the last year. A newly released survey from the American Institute of CPAs (AICPA) found that college students who rated themselves as having excellent or good personal financial management skills (57 percent) outweighed those who rated their skills as poor or terrible (12 percent) by a more than a five-to-one margin. New York (September 10, 2015) – While a majority of college students give themselves good grades for their financial literacy skills, many of them need to study up on the basics.

Virtually all students say financial management skills are important, but only two-in-five follow a monthly budget

Students perception survey.nyc