Answer: 54%

Questions:

• Do you have a savings account?
  • If not, why not?
  • If so, what age did you open on and what motivated you to open it?
• Do you have any savings goals? 
• Do you find it easy/difficult to save money? Explain. 

Here's the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (from Ipsos):

To help with saving their money, a majority (54%) of Gen Zs have a savings account. Among those who have a savings account, 43% report currently having a balance of less than $500 – including nearly a quarter (23%) who have less than $250. On the other hand, a quarter (25%) report having $500-$999 currently set aside in their savings account, while 31% of teenagers between the ages of 13-17 have more than $1,000 saved up.

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Want to teach your students how to set savings goals? Check out this popular NGPF Activity: How to Save. 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.