Rutland Herald: Mandell quoted on teens' spending habits, financial literacy

An article in the Rutland Herald on the impact of teens' spending habits and financial literacy in the current economic condition quotes Lewis Mandell, professor emeritus of finance and managerial economics. "People of all income levels are having to adapt to the changes that are being made," he said. "People who understand finances better are anticipating the changes and already making changes to their lives in a way that's going to cost them the smaller amount of disruption. People who are not financially literate don't pay attention and react at the wrong time. It's going to have an immense impact on their lives."