According to an AICPA study, students are overconfident about their ability to manage money. The majority of those in the study thought their management skills to be good or excellent.
But less than 2 out of 5 follow a budget, nearly half had less than $100 bucks in their bank account at least once within the year.
So maybe they are doing better with less and this is increasing their confidence. But once they actually have increased responsibilities they will find out that their skills need work.
Do you work off of a budget? Are your money management skills good or excellent?