Washington D.C. – A new study of teens ages 13-18 conducted by Junior Achievement and MissionSquare Retirement's Foundation reveals that more high school students are being offered financial literacy courses, yet significant knowledge gaps in the curriculum must be filled to help the nation’s youth prepare for their futures.
According to a new survey fielded independently by Wakefield Research, 45% of high schoolers took a personal finance or financial literacy class at school, up from 31% in 2024. Of those students who took their school’s curriculum, 64% found it extremely or very helpful, yet diving deeper, data reveals otherwise.
Topline Data
68% of teens agree that saving for retirement is something they can think about later in life.
43% of teens believe that an interest rate of 18% on debt is manageable and can be paid off over time.
80% of teens have never heard of FICO credit scores or do not fully understand their purpose.
42% of teens are terrified they won’t have enough money to cover their future needs and goals.
Teenagers’ three most appealing investing strategies are savings accounts, side hustles, and keeping cash at home.
When they receive money, only 36% save a part for their future, 23% save for their education, and 13% invest.
"With more states adopting financial literacy requirements, the research suggests that not all courses are achieving their full potential in enhancing student understanding," remarked Dr. Monica Goldson, President and CEO. "To truly make an impact, financial literacy programs must embrace evidence-based strategies that not only deepen knowledge but also shape positive attitudes and behaviors. It's crucial to move beyond surface-level online courses and ensure learning outcomes are engaging and thoughtfully addressed."
Junior Achievement is a leader in financial literacy programs, with rigorous, multi-year curriculum that aligns with state educational standards that is shown by third-party evaluations to have a positive impact on students’ financial readiness.
Students K-12 have access to nearly 100 Junior Achievement organizations across the country that offer a wide range of programs that use proven programs, engaging curricula, and experienced volunteers to guide students through skills ranging from personal finance, investing, and economics to entrepreneurship, career planning, and creative thinking.
Survey Methodology:
The Junior Achievement and MissionSquare Foundation Teens & Personal Finance Survey was conducted by Wakefield Research (www.wakefieldresearch.com) among 1,000 nationally representative US Teens ages 13-18, between February 3rd and 10th, 2025, using an email invitation and an online survey. Data was weighted to ensure a reliable and accurate representation of U.S. teens ages 13-18.
Results of any sample are subject to sampling variation. The magnitude of the variation is measurable and is affected by the number of interviews and the level of the percentages expressing the results. For the interviews conducted in this particular study, the chances are 95 in 100 that a survey result does not vary, plus or minus, by more than 3.1 percentage points from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.