Financial Literacy Month is wrapping up and a local firm is sounding the alarm over low levels of financial literacy when it comes to young people.

Fontaine & Associates asked people across the north to fill out an online quiz made up of ten basic money management questions.

Manager Joel Grise says the average score for people between the ages of 14 and 25 was only 56 percent.

He says it may not develop into an issue at that age, but later on when they’re inundated with credit card pitches, it can become an issue.

“Later 20’s or early 30’s where you say, ‘as a young adult I made a lot of unfortunate decisions’, and that’s why they end up coming in, because right from the get go, they’re behind the 8-ball,” he said.

Grise says the province recently announced it’s going to introduce money management classes into high school, but more is needed.

“There is a level of responsibility for parents or for teachers to help these kids reach adulthood and have some type of literacy when it comes to understanding credit, understanding money,”  added Grise.

Older people who took the online survey scored around 70% on average.