NEW YORK, April 14, 2014 /PRNewswire-USNewswire/ -- Three in four students feel they don't know enough about personal finances. According to a recent survey by H&R Block Dollars & Sense, 58 percent of teens worry about being worse off financially than their parents.
To help teens increase their financial knowledge, DoSomething.org and H&R Block Dollars & Sense created " Would You Rather?", a campaign that uses an interactive SMS text message game to teach young people personal finance. Now in its second year, "Would You Rather?" asked young people to choose between different money-saving scenarios and delivered personal finance tips straight to their cell phones. Actor Justin Long recorded a public service announcement to encourage young people to participate from January 28 to April 3. More than 100,000 young people played the game.
When making choices on what they would rather do to save money, young people's responses were entertaining. In fact:
- 73% would rather work concessions at the Super Bowl than clean up after a music festival;
- 72% would rather go commando than buy used undies; and
- 55% would rather be Lindsay Lohan's personal assistant than wash the Dallas Cowboy's laundry
Following the questions, young people were offered tips to increase their financial fitness. Tips included:
- Before opening a checking account, seek an account that doesn't require a minimum balance or charge you for each check written.
- Familiarize yourself with credit card interest rates. A pair of $50 jeans can become expensive if you are paying 20 percent interest.
- Pack a lunch instead of eating out. Saving a few dollars at each meal will add up in the long run, helping you to buy other items you crave.