Lifestyle
Helping Teens Develop Financial Literacy
Developing financial knowledge and effective money management habits are important steppingstones for teenagers to become financially stable adults who aspire to build assets and achieve personal goals.
Last Updated on September 26, 2025 by Daily News Staff
(Family Features) Developing financial knowledge and effective money management habits are important steppingstones for teenagers to become financially stable adults who aspire to build assets and achieve personal goals.
For example, most teens (88%) would like to own a home someday, according to a survey conducted by Wakefield Research on behalf of Junior Achievement USA and Fannie Mae. The survey of 1,000 teens ages 13-17 in the United States found most (85%) believe “owning a home” is part of “the good life,” compared to nearly as many adults (87%). However, fewer than half (45%) could correctly identify the definition of a home mortgage and 76% said they lacked clear understanding of credit scores.
“There’s been this theme that younger Americans aren’t interested in homeownership, but the results of this survey contradict that assumption,” said Jack E. Kosakowski, president and CEO of Junior Achievement USA. “Teens appear interested in owning a home someday but seem to realize they need more information on how to do it.”
To help teens gain a better understanding of financial decisions they’ll face in adulthood, consider these common terms.
Credit Score
While nearly all teens (96%) believe credit scores play an important role in the ability to purchase a home, approximately 3 in 4 (76%) said they understood credit scores only “somewhat,” “a little” or “not at all.” A credit score is a number from 300-850 based on a number of factors, including credit history, open accounts, total debt, repayment history and more. Lenders use credit scores to evaluate a person’s ability to repay loans.
A person’s credit score may also determine the size of a down payment needed when purchasing a smartphone or home, or the deposit needed for renting property or obtaining utilities and may impact interest rates and credit limits on credit cards. Generally, scores below 620 may require paying a higher rate, a shorter repayment term or a co-signer. Scores of 700 or higher are considered more favorable to creditors and may result in lower interest rates while scores higher than 800 typically provide the most benefits to consumers.
Mortgage
While a slight majority of white teens (52%) correctly identified the definition of a mortgage, only around a quarter (26%) of Black teens and fewer than half (41%) of Hispanic or Latino teens could do so. A mortgage is a type of loan used to purchase or maintain a home, land or other types of real estate. The borrower makes a down payment for a portion of the purchase price then borrows the rest from a lender. The borrower then repays the lender over a number of years – typically 15-30 – via a series of regular payments that are divided into principal (the money originally borrowed) and interest with the property serving as security.
Nearly all teens surveyed (97%) thought it would be helpful if schools offered lessons that explained homeownership, including mortgages. In response, Fannie Mae is supporting the development and deployment of Junior Achievement learning experiences for thousands of students annually in various age groups by integrating relevant content from its HomeView homeownership course materials and resources, which are designed with first-time homebuyers in mind.
“Young people today are the homebuyers of tomorrow,” said Jeffery Hayward, executive vice president and chief administrative officer, Fannie Mae. “By providing them access to quality, foundational education now, Fannie Mae and Junior Achievement are helping these future homeowners prepare for the mortgage and homebuying process when they’re ready to take that step.”
Visit ja.org for more tips and information to help teens improve their financial knowledge and reach their goals.
Photo courtesy of Getty Images
SOURCE:
Junior Achievement
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child education
Preparing the Next Generation for Economic Mobility in an AI-Driven World
AI-Driven World: Within only a few years, AI has already changed many things about the world and workforce. Entry-level jobs, particularly the ones relying on routine and predictable tasks, are increasingly disappearing to automation, leaving young people wondering how to launch their careers and futures. To learn what preparing students for the future may look like in practice, consider these tips.
Preparing the Next Generation for Economic Mobility in an AI-Driven World
(Feature Impact) Within only a few years, AI has already changed many things about the world and workforce. Entry-level jobs, particularly the ones relying on routine and predictable tasks, are increasingly disappearing to automation, leaving young people wondering how to launch their careers and futures.
Access to economic mobility – the ability to change your income or wealth – doesn’t just rely on technical knowledge and skills but on leaning into humanity. Being able to think outside the box, collaborate, solve problems and grow as a person can open doors in life and at work. AI may be changing the world, but in change lies opportunity. The students who can adapt quickly are more likely to prosper as the economy continues to reshape itself.
To learn what preparing students for the future may look like in practice, consider these tips from the economic and career experts at Junior Achievement.
Build the Kinds of Skills AI Can’t Replace
Young people facing AI as their competition can get a boost from cultivating the uniquely human skills technology can’t replicate. Educators, parents and other adults in kids’ lives can help them develop increasingly important soft skills like critical thinking, communication, teamwork and leadership, which can translate to many different careers. Hands-on skills can fit into this category as well, like the kinds required in entrepreneurship and the trades.
Provide Real-World Experiences
When young people have the chance to test themselves in a real-world setting, it lets them hone their interests, skills and confidence before the time comes to make major decisions about their futures. As early as elementary school, experiential learning activities like Junior Achievement’s Biztown allow students to operate businesses, work with others, manage finances and solve problems, combining in-class learning with hands-on simulations. As kids grow up, other options can include job shadowing, internships and entrepreneurship experiments – all ways to build durable social and professional skills that can help them succeed.
Teach Foundational Financial Literacy
Earning money is only part of the equation for a healthy financial future; equally important is understanding how to manage it. As kids prepare to earn their first sources of income, make sure they’re also equipped with practical financial skills like budgeting, saving, investing, using credit wisely and planning for future goals. Giving them these tools early helps them make informed decisions about their long-term economic advancement.
Connect Students with Employers and Opportunities
Sometimes, all a student needs to succeed is someone who’s willing to give them a chance. Young people in a position to meet business professionals in (and beyond) their communities may be able to turn those connections into future opportunities. This can happen naturally as they seek real-world experiences through apprenticeships, mentorship programs, career fairs and more.
Programs like Junior Achievement’s 3DE puts students in authentic business challenges, connecting them with educators, business partners and volunteers as they work in teams to complete case experiences. This not only gives young people the opportunity to meet potential employers or mentors, it also lets them demonstrate critical thinking, social skills and real-world competence.
Visit jausa.ja.org for more ideas to help young people gain the confidence and connections needed to achieve economic mobility in a changing world.
Photo courtesy of Shutterstock
SOURCE:
Consumer Corner
Cold cities are the most ready for winter, with one exception. See where your city ranks
Cold cities? Every neighborhood has a mix of homeowners who approach seasonal home maintenance differently – there are the people who stay on schedule, and on the other end, the procrastinators. There are the dedicated DIYers, and those who have their favorite maintenance pro saved as a favorite contact in their phone. As it turns out, cities are no different. Some metropolitan areas keep their neighborhoods in tip-top shape, while others are a little more slow-going.
Cold cities are the most ready for winter, with one exception. See where your city ranks
(Sheeka Sanahori) Every neighborhood has a mix of homeowners who approach seasonal home maintenance differently – there are the people who stay on schedule, and on the other end, the procrastinators. There are the dedicated DIYers, and those who have their favorite maintenance pro saved as a favorite contact in their phone. As it turns out, cities are no different. Some metropolitan areas keep their neighborhoods in tip-top shape, while others are a little more slow-going.
New data from home services company Angi, covering fall maintenance activity in August, reveals which U.S. metropolitan areas are the most proactive with fall maintenance. Washington, D.C., tops the ranking with the strongest demand for fall maintenance in the country, followed by Columbus, Ohio, and Milwaukee, Wisconsin. Northern cities dominate the rest of the list.
Cleveland, Ohio, and Albany-Schenectady-Troy, New York, round out the top five. Cold-weather markets dominate the ranking, accounting for eight of the 10 most-prepared metros. Rochester, New York; Charlotte, North Carolina; Chicago; Indianapolis; and Pittsburgh complete the top 10.
Least fall-ready metros
Fewer than 1 in 5 American cities is prepping for fall at an above-average rate. Among the 66 metros that recorded at least 100 fall maintenance service requests during the analysis period, Los Angeles had the lowest level of per-capita activity, followed by Oklahoma City and Riverside, California. California accounts for four of the bottom 10 markets, with Los Angeles, Riverside, San Diego and San Francisco all appearing on the list. These metros historically don’t experience the colder winter climates of the Northeast and Midwest, making fall maintenance less of an imperative.
Grand Rapids, Michigan, stands out as the only clearly cold-weather metro among the 10 least-prepared large metros. The New York City metro, which includes Newark and Jersey City, ranked just outside the 10 least-prepared large metros, coming in at number 11. Other New York state metros, including Syracuse, Rochester and the Albany metro area, were on the most prepared list.
Homeowners are choosing upkeep over upgrades
Sixty-three percent of homeowners who have recently hired a professional completed maintenance work, and 58% completed repairs. Although they may be waiting to do that dream kitchen or bath renovation, they’re focusing for now on the maintenance that keeps their homes in order.
The most common fall maintenance projects focus on outdoor upkeep. Nationally, tree trimming was the most popular, followed by lawn and yard waste cleanup and shrub care.
What homeowners should do now
When tackling a home maintenance list, start at the top of the home by inspecting the roof and gutters. Look for loose or damaged shingles, and make sure gutters are debris-free. It’s also a good idea to ensure downspouts direct water far away from the foundation. Homeowners should inspect these areas from the ground or hire a professional if the work requires climbing or feels unsafe.
Next, check for drafts around the windows and doors. Replacing worn weatherstripping and damaged caulk in the fall can prevent warm air from escaping once the heat comes back on. Homeowners should also inspect their HVAC filters and have the heating system checked before the temperatures drop.
Every home’s maintenance needs will vary, depending on the age and condition of the house and where it’s located. Whether homeowners hire a professional or safely address small issues, making the fixes can prevent larger and more expensive problems later.
The ranking: Metros from most to least prepared
America’s 10 Most Fall-Prepared Metros
1. Washington, D.C.
2. Columbus, Ohio
3. Milwaukee, Wisconsin
4. Cleveland, Ohio
5. Albany-Schenectady-Troy, New York
6. Rochester, New York
7. Charlotte, North Carolina
8. Chicago, Illinois
9. Indianapolis, Indiana
10. Pittsburgh, Pennsylvania
10 Metros With the Most Opportunity to Get Fall-Ready
1. Los Angeles, California
2. Oklahoma City, Oklahoma
3. Riverside, California
4. Miami, Florida
5. San Diego, California
6. Houston, Texas
7. Grand Rapids, Michigan
8. San Francisco, California
9. Austin, Texas
10. Memphis, Tennessee
Methodology
The rankings are based on fall maintenance activity recorded on Angi during August 2026. Projects included yard cleanup, winterization, roofing and gutters, heating systems, water and drainage, outdoor plumbing, fireplaces and chimneys, pest prevention, and snow and storm preparation. U.S. metropolitan areas were ranked by activity per 100,000 residents using 2020 U.S. Census population data. To qualify for the least-prepared ranking, metros were required to have at least five service requests or jobs during the analysis period. The rankings reflect activity on Angi’s platform and are not a complete measure of all home-maintenance activity within each metro. These rankings reflect activity observed on Angi’s platform and should not be interpreted as a complete measure of all home-maintenance behavior within a metro area.
Photo courtesy of Shutterstock
SOURCE:
Angi
College Life
Is College Worth It? New U.S. News Rankings Put More Weight on What Graduates Earn
Is college worth it? MIT has taken the No. 1 spot in the 2027 U.S. News Best Colleges rankings, ending Princeton’s 15-year run. But a new Earnings by Major metric could be even more important for families asking whether college is worth the investment.
For millions of students and families, choosing a college increasingly comes down to a basic question: Is college worth it?
The latest U.S. News & World Report Best Colleges rankings are attempting to provide another piece of information to help answer that question.
The 2027 rankings place the Massachusetts Institute of Technology (MIT) at No. 1 among National Universities, ending Princeton University’s 15-year run at the top. But perhaps the bigger story for prospective students isn’t which university occupies the No. 1 position.
It’s a significant change in how U.S. News measures the value of attending college.
For the first time, the rankings include an Earnings by Major factor designed to examine what graduates earn after leaving school — and to compare those earnings with graduates who studied the same subjects elsewhere.
Is College Worth It? U.S. News Looks Beyond Graduation
College has traditionally been promoted as an investment in a person’s future. But as families confront tuition, housing expenses and the possibility of student debt, simply earning a degree may no longer be enough information when deciding where — or whether — to attend.
Students increasingly want to know what happens after graduation.
The new U.S. News Earnings by Major metric examines graduate earnings four years after graduation using data from the U.S. Department of Education’s College Scorecard.
Importantly, the system doesn’t simply compare the average salary of graduates from one university with another.
Instead, earnings are compared within specific academic disciplines.
That distinction matters.
A university graduating large numbers of engineers, computer scientists or students entering other relatively high-paying occupations could otherwise appear to produce stronger financial outcomes simply because of the subjects its students choose to study.
Comparing graduates within similar fields is intended to provide a clearer picture of how graduates from different institutions fare financially.
From Student Debt to Graduate Earnings
The new Earnings by Major metric replaces the Graduate Indebtedness factor previously used by U.S. News.
That represents an important shift in perspective.
Instead of focusing primarily on how much debt students accumulate, the new measure looks at one aspect of what students may receive financially from their education after entering the workforce.
The metric examines employed federal financial aid recipients whose highest degree is a bachelor’s degree.
According to U.S. News, the approach is intended to reduce the influence of family financial advantages and provide a better indication of the economic value institutions may contribute to graduates.
That doesn’t mean earnings alone determine whether a college education is worthwhile.
But for a student potentially investing tens of thousands of dollars — and several years of their life — knowing how graduates in a particular major perform economically can be an important part of the decision.
MIT Takes the No. 1 Spot
Against that changing methodology, MIT moved into the No. 1 position among National Universities in the 2027 rankings.
The top three are:
- Massachusetts Institute of Technology
- Princeton University
- Harvard University
Princeton’s move to second place ends a run at No. 1 that began with the 2012 edition of the rankings.
Among National Liberal Arts Colleges, Williams College remained No. 1, followed by Amherst College at No. 2. Bowdoin College, Claremont McKenna College, Pomona College and Swarthmore College tied for third.
Nearly 1,700 institutions were evaluated in the 2027 edition.
Outcomes Are Becoming a Bigger Part of the Equation
The addition of graduate earnings is part of a broader emphasis on student outcomes in the U.S. News methodology.
U.S. News says outcomes now account for more than half of a school’s total score.
Institutions can be evaluated using as many as 17 weighted measures, including graduation and retention rates, social mobility for lower-income students, post-graduate earnings, faculty resources and academic peer assessments.
The shift reflects a changing conversation surrounding higher education.
For generations, students were often encouraged to focus heavily on getting into the most prestigious college possible. Today’s students may also be asking more practical questions:
How much will it cost?
How much financial aid will I receive?
How much debt might I have when I graduate?
What do graduates in my intended major earn?
And perhaps most importantly:
Will the investment pay off for me?
College Value Isn’t Just About Salary
Graduate earnings can provide useful information, but salary shouldn’t be treated as the sole measurement of the value of higher education.
Different careers have dramatically different compensation structures.
A graduate pursuing teaching, public service, social work, the arts or nonprofit work may earn less than someone entering engineering, finance or technology while still considering their education worthwhile.
There are also benefits of higher education that are difficult to capture in a salary statistic.
That’s why students comparing schools may want to look beyond an institution’s overall ranking and examine factors such as net price after financial aid, scholarships, graduation rates, student debt, internship opportunities, career placement, location and the strength of the program they actually intend to study.
The best-known university isn’t automatically the best financial or educational choice for every student.
Economic Diversity Also Gets Attention
The 2027 rankings also highlight economic diversity among highly ranked institutions.
According to U.S. News, MIT and Princeton rank third and fourth, respectively, among the top 25 National Universities in the percentage of students receiving federal Pell Grants.
Pell Grants generally assist undergraduate students with significant financial need and typically do not have to be repaid.
Among the top 25 National Liberal Arts Colleges, Amherst College ranked highest for economic diversity under the U.S. News measure.
A New Ranking Looks at In-State Value
U.S. News is also placing additional attention on affordability for students considering public universities.
The 2027 edition introduces a Best Value Schools for In-State Students ranking, which evaluates public universities based on academic quality and affordability for residents.
The University of North Carolina at Chapel Hill took the No. 1 position in the inaugural ranking.
That category could be particularly relevant to families deciding whether the prestige associated with attending a private or out-of-state university justifies potentially higher costs compared with attending a public institution in their home state.
The Rankings Look Different This Year
There is another important caveat when comparing the 2027 results with previous years.
Changes to the Carnegie Classification framework resulted in approximately 20% of previously ranked institutions moving into different U.S. News categories.
Because some colleges are now being compared against different groups of institutions, their 2027 rankings may not be directly comparable with previous years.
The changes also expanded eligibility, allowing additional institutions specializing in areas such as engineering, business and health to enter the rankings.
U.S. News also introduced an undergraduate economics specialty ranking while continuing rankings covering areas such as social mobility, innovation, historically Black colleges and universities, artificial intelligence programs, internships, undergraduate research and study-abroad opportunities.
Public Universities, HBCUs and Social Mobility
Among public National Universities, the University of California, Berkeley and UCLA tied for the No. 1 position, followed by the University of Michigan–Ann Arbor.
The top three Historically Black Colleges and Universities were:
- Spelman College
- Howard University
- Tuskegee University
For social mobility among National Universities, Florida International University and the University of California, Riverside tied for No. 1, with Oakland City University ranked third.
These categories illustrate another reason students may want to look deeper than a school’s overall national position. Different rankings can reveal institutions performing particularly well in areas that may matter more to an individual student.
So, Is College Worth It?
There isn’t one answer that applies to every student.
The cost of attending, financial aid, chosen major, career goals, likelihood of graduating and potential debt can dramatically change the financial equation.
A college with a famous name and high national ranking could be a poor financial choice for one student while a less prominent public university with generous financial aid could be an excellent investment for another.
That’s what makes the addition of Earnings by Major noteworthy.
Instead of asking only “Which college ranks highest?”, prospective students now have another reason to ask a much more personal question:
“What am I paying for — and what could I realistically get in return?”
MIT replacing Princeton at No. 1 makes the headline.
But for students and parents trying to decide whether college is worth the cost, the growing emphasis on outcomes, affordability and post-graduation earnings may ultimately be the more important story.
Source: U.S. News & World Report, 2027 Best Colleges rankings, released September 22, 2026.
U.S. News & World Report press release:
MIT Claims No. 1 Spot in U.S. News 2027 Best Colleges Rankings PR Newswire
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