By WI Web Staff
A new study reveals that 43% of teens ages 13-18 are worried they won’t have enough money to cover their future needs and goals, despite more high schools offering financial literacy courses.
The survey by Junior Achievement and MissionSquare Retirement’s Foundation found 45% of high schoolers took a personal finance or financial literacy class at school, up from 31% in 2024. While 64% of students who took these courses rated them extremely or very helpful, the data shows significant knowledge gaps remain.
According to the study:
- 68% of teens believe saving for retirement is something they can think about later in life
- 43% think an 18% interest rate on debt is manageable and can be paid off over time
- 80% have never heard of FICO credit scores or do not fully understand their purpose
- Teens’ three most appealing investing strategies are savings accounts, side hustles and keeping cash at home
- When receiving money, only 36% save for their future, 23% save for education and 13% invest
“With more states adopting financial literacy requirements, the research suggests that not all courses are achieving their full potential,” said Dr. Monica Goldson, Junior Achievement of Greater Washington president and CEO. “Financial literacy programs must embrace evidence-based strategies that not only deepen knowledge but also shape positive attitudes and behaviors.”
Junior Achievement offers rigorous, multi-year curriculum aligned with state educational standards across nearly 100 organizations nationwide. Their programs cover personal finance, investing, economics, entrepreneurship, career planning and creative thinking.
The Wakefield Research study surveyed 1,000 nationally representative U.S. teens between February 3-10, 2025, with a sampling variation of plus or minus 3.1 percentage points.
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