Everfi Survey Finds Students Gaining Access to Financial Tools Faster Than Financial Confidence

State of Teen Financial Literacy 2026 report reveals gaps in investing preparedness,
digital banking safety, and credit readiness

WASHINGTON, April 1, 2026 /PRNewswire/ -- Everfi, the trusted leader in connecting businesses and communities through personal finance and essential life-skills education, today released findings from its annual State of Teen Financial Literacy 2026 report. The findings highlight a critical gap: while today's high school students are gaining earlier access to financial tools—from mobile banking to investing platforms—most lack the confidence and knowledge to manage them effectively, underscoring that access without financial education does not translate into long-term financial security. The report was released to coincide with the start of Financial Literacy Month and is based on survey responses from more than 161,900 students nationwide.

Financial Access Doesn't Equal Confidence
High school students are increasingly engaging with financial products, but many lack the knowledge to use them responsibly:

• 45% have a savings account; 48% plan to open one within a year
• 49% have a checking account; 40% plan to open one within a year
• 21% have a credit card; 53% plan to open one within a year

Despite this early engagement, more than half of students feel only somewhat prepared or less to:

• Set up and follow a budget (59%)
• Manage checking and savings balances (57%)
• Check their credit score and maintain good credit (62%)

Strong Interest in Investing, But Lacking Guidance
Looking beyond immediate financial needs, students express strong interest in building long-term wealth. However, many feel unprepared to navigate the ins and outs of investing:

• 50% say they are quite or extremely likely to invest in the future
• 34% say they are somewhat likely to invest in the future
• 70% describe investing as at least somewhat intimidating
• 20% report never discussing investing with family members

While nine in 10 students report at least occasional conversations about general money management, far fewer report frequent conversations about investing, suggesting a gap in exposure to more advanced financial topics.

"Access to investing and financial tools has expanded rapidly, creating a powerful opportunity to strengthen financial education," said Ray Martinez, CEO of Everfi. "Young people can now engage with money in real time, which makes it essential that education keeps pace. When access is paired with education that builds understanding of risk, responsibility, and long–term impact, students are truly empowered to make informed financial decisions."

Digital Banking Expands Access but Safety Knowledge Lags
As banking increasingly moves to mobile platforms, many students are also using digital tools to manage their money. However, confidence in using them safely remains limited.

• 51% of students say they currently use a mobile banking app, with another 36% planning to start using one within the next year
• 48% say they currently use peer-to-peer payment apps, and 32% plan to start using them within a year

Despite widespread adoption of these tools, many students say they are unsure how to use them safely:

• 52% say they feel unprepared to recognize money-related scams
• 56% say they feel unprepared to safely use peer-to-peer payment apps

This lack of confidence in managing money through digital tools leaves young people vulnerable to mistakes and potential scams as they increasingly rely on mobile financial services.

As access to financial tools and long-term investment opportunities continues to expand—from mobile-first banking to  new initiatives like Trump Accounts designed to introduce young people to investing earlier—these gaps highlight a broader challenge: without financial education, early exposure does not translate into informed decision-making or long-term financial stability.

"As financial institutions and policymakers introduce new ways to help young people begin saving and investing earlier in life, the opportunity is clear—but so is the risk," said Martinez. "Without education to guide decision-making, access to these tools may fall short of delivering the long-term financial outcomes they are designed to support."

Demand for Financial Education is Strong
Despite gaps in confidence and preparedness; the survey makes one thing clear: students recognize the importance of financial education and want it earlier.

• 75% say now is the right time to learn about personal finance
• 20% say it is already too late
• 78% believe financial education can improve their lives "a lot" or "a ton"
• Only 5% say it is too early

During Financial Literacy Month, Everfi invites financial institutions and community partners to consider how they are pairing expanded access to financial tools with education that builds confidence, capability, and long-term impact. Learn more about supporting financial education in schools at everfi.com/sponsorship.

About the Survey
The State of Teen Financial Literacy 2026 survey is based on pre-course responses collected between June 2025 and February 2026 from students participating in Everfi's high school financial education programs. Sample sizes include approximately 133,000 students in Financial Education courses, 1,900 in Modern Banking, 13,000 in Financing Higher Education, and 14,000 in Investing.

About Everfi
Since 2008, Everfi has connected businesses to communities by providing essential education that builds trust and drives measurable impact. Using digital and offline resources, the company delivers personal finance and life skills education to millions of learners annually in both K-12 schools and broader communities. Today, hundreds of organizations, including financial institutions, professional sports leagues, and healthcare systems, rely on Everfi to deliver measurable outcomes that benefit learners and drive business impact. To learn more about Everfi, please visit everfi.com or follow us on Facebook, Instagram, LinkedIn, or X/Twitter @Everfi.

SOURCE Everfi