Before they graduate high school, today’s students are already stepping into a rapidly evolving financial system. They’re using mobile banking apps, sending money through peer-to-peer platforms, and increasingly thinking about investing and building wealth earlier than previous generations. At the same time, new pathways are emerging that aim to introduce young people to long-term saving and investing even sooner. But while access is expanding, preparedness is not. 

For Financial Literacy Month, Everfi analyzed survey responses from 161,900 high school juniors and seniors to better understand how young people think about money as they approach adulthood. While the next generation is entering the financial system with interest and ambition, they’re doing it without the confidence or knowledge to navigate it effectively 

Students Are Entering the Financial System Earlier Than Ever

High school students are no longer waiting until adulthood to engage with financial tools. Nearly half already have checking and savings accounts, and many more plan to open them within the next year. Credit cards are also on the horizon, with more than half of students expecting to open one soon. But access does not equal preparedness. 

• 59% of students say they feel unprepared to set up and follow a budget  

• 57% say they are unprepared to manage checking and savings balances  

• 62% say they feel at most only somewhat prepared to manage credit  

For many students, their first financial decisions are happening before they fully understand the potential consequences. 

Digital Banking Is Expanding Faster Than Financial Confidence

The way young people interact with money has fundamentally changed. Banking is no longer something that happens in a branch—it happens instantly on a phone. 

• 51% of students currently use a mobile banking app  

• 48% use peer-to-peer payment apps  

Yet confidence in using these tools safely remains limited: 

• 52% feel unprepared to recognize money-related scams  

• 56% feel unprepared to use peer-to-peer payment apps safely  

For many students, these platforms represent their first real financial decisions, often made independently and in real time. Without education, the speed and convenience of digital finance can outpace a student’s ability to make informed choices. 

Students Want to Invest but Lack the Guidance to Start

Students are thinking about their financial futures beyond college. Students are curious about building wealth, but many lack exposure to the knowledge and conversations that make investing feel accessible. 

• 50% of students say they are quite or extremely likely to invest in the future  

• 34% say they are somewhat likely  

• 70% say investing feels at least somewhat intimidating  

• 20% report never discussing investing with their families  

As access to investing continues to expand—through digital platforms and new initiatives like Trump Accounts designed to introduce young people to investing earlier—this gap in guidance becomes more urgent. Interest is no longer the barrier. Understanding how to participate responsibly is. 

Students Want Financial Education NOW

Despite these gaps, students overwhelmingly recognize the value of financial education. When asked whether it is the right time for them to learn about personal finance: 

• 75% say now is the right time to learn about personal finance 

• 78% say financial education could improve their lives “a lot” or “a ton” 

In total, 95% of students believe financial education can improve their future. Financial education can help students build the financial habits that lead to long-term financial stability, from budgeting and saving to managing credit and planning for the future. The question is not whether students want to learn about money, it’s whether they will have access to the knowledge and tools they need before they begin making major financial decisions. 

A Critical Opportunity for Financial Institutions

This is where financial institutions and community organizations can make a meaningful difference. By sponsoring financial education programs, organizations can help schools meet graduation requirements while ensuring students gain the practical knowledge they need to navigate real-world financial decisions. These partnerships help deliver financial education to students at no cost to schools while supporting lessons on: 

• Budgeting and Money Management 

• Banking and Credit 

• Paying for College 

• Saving and Investing for the Future 

For financial institutions, the impact goes far beyond the classroom. Supporting financial education strengthens communities, expands access to financial knowledge, and prepares the next generation to participate confidently in the financial system. 

Closing the Financial Preparedness Gap

The findings from the State of Teen Financial Literacy 2026 report reveal a clear reality: students are stepping into financial adulthood with enthusiasm, but not always with the preparation they need. At the same time, momentum is building. 

Students want financial education.
States are requiring it.
Schools are looking for support. 

Financial institutions, foundations, and community organizations have a unique opportunity to help close this gap. By sponsoring high-quality financial education programs, organizations can ensure students gain the knowledge and confidence they need to make informed decisions about budgeting, banking, credit, student loans, and investing. To learn how your organization can support financial education in schools across the country, visit: https://everfi.com/sponsorship/ 

By working together, educators, financial institutions, and community organizations can help close the financial literacy gap—ensuring students graduate not only ready for the next stage of life but truly prepared to succeed financially.