Group says Hoosier teens lacking in money skills

The Indiana Youth Institute says six in 10 Hoosier high school students failed a national study on money skills.

Indiana Youth Institute president Bill Stanczykiewicz says Indiana also ranks fourth in bankruptcies and that its mortgage foreclosure rate jumped nearly 38 percent from 2002 to 2006.

According to the Youth Institute report, few Indiana high school seniors have budgeting experience, more than 60 percent do not have checking accounts and half of them have cars but do not help pay for insurance.

Junior Achievement is offering programs on financial responsibility.

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