Jason Olson, Deseret News
Zions Bank Vice President Rob Brough works with Guadalupe School third graders Jasmine Montoya, left, Diana Mares, center, and Martina Nava during a demonstration of the school's six-week Bank Jr. program to teach the kids about finances.

Financial literacy has become an issue for many people in the U.S. according to Reuters.

On average, Americans were only able to answer three out of five questions about fundamental financial concepts, according to a FINRA capability study. Less than 25 percent of students say they're ready to face the financial challenges of the real world. The Treasury Department has research that shows high school graduates from states that require financial education have greater net worth and higher savings rates than students from states without a mandate for financial education, but only 12 states require students take a personal finance class to graduate, according to Reuters.

Preparing students to be financially capable requires help from parents, schools, the private sector, and the public sector, according to Reuters. The coming generation needs help from each of these areas in order to be financially competitive.

The home is a great place to teach young teenagers about finances, according to the Globe and Mail.

"Because of brain plasticity, the early teen years are a crucial time to learn financial lessons," Alyson Schafer, a family psychotherapist based in Toronto, told the Globe and Mail. "The pathways in the frontal lobes are in the process of being rewired and parents can influence how new circuits form."

The frontal lobes are the center of impulse control, long-term planning and reasoning, are being pared down and prepared for adulthood, according to the Globe and Mail. The more active parts of the brain become more effective.

After teenagers gain some financial sense from their parents, they can turn to the Internet for help, according to the Sacramento Bee. There is a new website called Yobucko.com, that aims to help people in their 20s learn to save, deal with debt, budget, purchase insurance, and more.

Yobucko was started by 28-year-old Eric Bell, an entrepreneur in Washington, D.C., who sees a lack of information for people of his age, according to the Sacramento Bee.

Bell started the website because there were no classes on money management offered when he was in college, he told the Sacramento Bee. He wants to help prevent people from having financial problems with credit card debt, bad mortgages, and other things of that nature.