Answer: 99%

Here's how they use their mobile banking apps: 

Questions:

• Do you have a mobile banking app? Why or why not? 
• What features are you using/would you plan to use when it comes to a mobile banking app? 
• Are there other mobile financial apps that you use? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (CNBC):

"Mobile banking is a convenient way to manage your money on the go and continues to grow in popularity. In fact, 54% of consumers agreed that they use digital banking tools more now, due to the pandemic, than they did last year...It comes as no surprise that millennials and Gen Z are the two groups who are using mobile banking apps the most. The study found that 99% of Gen Z and 98% of millennials use a mobile banking app for a wide range of tasks, including viewing account balances, checking their credit score and depositing a check. Gen X and Boomers use mobile banking apps less (86.5% and 69.5%, respectively), but the ones who do are still in the majority."

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Provide your students with the experience of managing an online bank account with the NGPF Bank Sim Activity. 

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.

More posts by Tim