The 1999 Youth and Money Survey was sponsored by the American Savings Education Council (ASEC), the Employee Benefit Research Institute (EBRI), and Mathew Greenwald & Associates, Inc. The survey of 1000 high school and college students ages 16 - 22 was underwritten by the TIAA-CREF Institute.
The Institute is committed to enhancing the lifelong financial security of individuals and their families through research and education. Financial well-being begins with healthy money management habits and positive attitudes, and the earlier in life these are established, the more likely it is they will continue. The youth survey provides an opportunity to check in on our country's next generation of savers and investors. Do they see value in regular savings? How do they use credit? When do they think is the right age to begin saving for retirement? What do they think of their future economic prospects? Where do they turn for help on financial matters?
The survey findings provide answers to these questions and many others that can clarify what financial information today's youth need and how best to get it to them. There are positive findings that emphasize that financial education efforts are paying off to some extent and that students feel confident about their knowledge of financial matters. There are other findings, however, that indicate that while young people may be more aware of financial concepts and healthy money management practices than in the past, their actions do not always reflect this awareness.
We are promoting the findings of the youth survey to help raise awareness of the importance of youth financial literacy. The survey findings were officially released at a press conference sponsored by the SEC in April 1999. The SEC used the survey as a cornerstone for their national Facts on Saving and Investing campaign which in 1999 had a special focus on younger Americans. The survey results underscored comments made by Arthur Levit, chairman of the SEC, in his address to the press. The survey continues to be publicized by the SEC, EBRI and by ASEC which actively promotes the importance of saving across the country through the media and special events.
Results of the 1999 Youth and Money Survey
The 1999 Youth and Money Survey answers these questions. One-thousand students between the ages of 16 and 22 were interviewed by telephone during January and February of 1999. The survey was sponsored by the American Savings Education Council (ASEC), the Employee Benefit Research Institute (EBRI), and Mathew Greenwald & Associates, Inc. The TIAA-CREF Institute underwrote the survey. The survey findings were officially released at a press conference sponsored by the SEC in April 1999.
Download PDF
At a June 29, 1999 meeting, Madeleine d'Ambrosio, Executive Director of the TIAA-CREF Institute, presented a detailed summary and analysis of this survey to the Investment Company Institute Shareholder Communications Committee.
Download PDF
To further support youth financial literacy, the TIAA-CREF Institute developed for ASEC a poster geared to teens with the heading "Reach Your Goals by Saving."
Download PDF
We also produced a tool to help introduce the concept of saving to even younger children. The tool, a wrapper little ones can use to turn a coffee can into a piggy bank, can also be downloaded.
Download PDF
For bulk copies of the above listed items, contact the Institute.
