Answer (from Pew Charitable Trust): 71.5%, a significant decline from 85.3% in 1996.

Questions for students:

• Do you have a driver’s license? Why or why not?
• What year do you see the biggest decline? What might explain why it dropped so much that year?
• Why do you think fewer high school seniors are getting driver’s licenses?
  • One cause might be the sharp increase in car insurance rates.
• When do you plan to purchase your first car? Is this older or younger than when your parents (or guardians) first got a car?
• If you have a car, about how much do you pay a month to operate it? If you don’t have a car, how much do you think you save by NOT having a car?

__________

Check out one of our most popular lessons “Purchasing a Used Car.”

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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