Gen Z may know how to navigate TikTok with ease, but when it comes to finances, they are sorely lacking, according to a survey by writing platform EduBirdie.
The study found that 46% of the 2,000 Americans aged 18-27 surveyed couldn’t understand cryptocurrency, and 33% weren’t sure about inflation and interest rates. Eight percent didn’t know how many cents are in a dollar, with 2% guessing 10, 3% saying 50, and 3% sure the number is tied to inflation, the survey said.
With costs increasing and rising risks of losing programs like Social Security, Gen Z needs to get financially literate — and the quicker, the better, experts said. Thirty states, up from 17 in 2022, already require their high school students to take at least one semester-long, standalone personal finance course before graduation, according to nonprofit Next Gen Personal Finance. Now, companies are building on that classroom education with real-world money experience.
“Every teen deserves to know not just how money works, but how money can work for them,” said Mindy Bingham, author of Lifestyle Math. “That’s what changes behavior — not just vocabulary or worksheets, but real numbers tied to their own lives.”
Calique Barnes was a junior in high school when he applied for a paid Capital One Café Ambassador internship. The internship for high school seniors in underserved communities teaches teens how to get a job, work and budget money.
