Mar 20, 2019

Question of the Day: What percent of 14-22 year olds have a bank account?

Answer: 67%

Questions:

  • Do you have a bank account? Why or why not?
    • If so, at what age did you open it? How do you use your bank account? 
  • What do you think the 1/3 of 14-22 year olds who don't have a bank account do with their money?
  • This study surveyed 14-22 year-olds. At what age in this range do you think that more than 50% have a bank account? Explain.

Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (from American Banker):

Teenagers with bank accounts? Apparently yes. According to Raddon’s study, two-thirds of Gen Z members have an account, either in their own name or jointly with a parent.
“It’s higher than we would have anticipated,” Handel said. “They seem to be a little more engaged in the system at an earlier stage.”
 
------------------
Demonstrate the challenges of being unbanked in America using this video, Spent: Looking for Change
 
 
 

 

 

 

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.

author image More by Tim right solid arrow
Mail Icon

Subscribe to the blog

Join the more than 12,000 teachers who get the NGPF daily blog delivered to their inbox:

SIGN UP