Find out how many teens you can bank on having a savings account...

Answer: 50% of people under 18 have a bank account

Questions:

• Do you have a bank account currently? Why or why not?
• What are the benefits of opening a bank account as a young person?
• What are the reasons that young people might decide NOT to open a bank account?
• What do you need to open a bank account, if you are under the age of 18? 

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

Behind the numbers (US Bank): 

"A new study from U.S. Bank, conducted in partnership with Morning Consult, shows a major generational shift in how families approach conversations about money, reshaping financial education at home. While many Americans grew up in households where money was rarely discussed, today’s parents are rewriting the playbook, starting earlier and talking more openly with their children....

At the same time, the research shows a gap between intent and action. While parents increasingly recognize the importance of early financial education, only about half have opened a youth bank account for their child. Among parents who haven’t opened an account, the biggest barrier isn’t cost or complexity – it’s uncertainty. Almost a quarter of parents said their child isn’t ready yet, while more than 1 in 10 said they don’t know where to start or which option to choose."

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Have your students practice banking online using NGPF's INTERACTIVE: Online Bank Simulator

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About the Author

Kathryn Dawson

Kathryn (she/her) is excited to join the NGPF team after 9 years of experience in education as a mentor, tutor, and special education teacher. She is a graduate of Cornell University with a degree in policy analysis and management and has a master's degree in education from Brooklyn College. Kathryn is looking forward to bringing her passion for accessibility and educational justice into curriculum design at NGPF. During her free time, Kathryn loves embarking on cooking projects, walking around her Seattle neighborhood with her dog, or lounging in a hammock with a book.