Do teens know money better than their parents?

New research has revealed that today’s teens are more financially responsible than their parents are.

A survey of 2,000 parents of teenagers ages 13 to 17 revealed that 46% agree that their kid has a better grasp on finances than they do.

This responsibility shines through in many ways, as these parents noted their teen thinks more carefully before making big purchases (41%) and is more likely to wait and save to make them (40%).

About one-third (34%) said their teen is better at sticking to a budget, better at distinguishing between wants and needs (31%) and more cautious about debt (30%).

And it doesn’t stop there. Many parents went so far as to say their teen has a better idea of how to bring in some extra money (30%), is more focused on their financial future (26%) and even has clearer financial goals than they do (23%).

Conducted by Talker Research on behalf of OnePay, the study also polled teens, aiming to compare their responses with their parents and paint a realistic picture of how the next generation approaches finances.

Nine in 10 teens would consider themselves financially responsible, and despite the fact that most (64%) have never set foot in an actual bank on their own, their habits show they may be right. Nearly all teens polled have some way of earning money (93%).

On average, teens polled earn nearly $7,000 per year ($6,916) through allowance and chores (53%), side hustles (33%), part-time jobs (25%), caretaking (23%) and reselling (16%).

Teens report saving nearly half of their income, 46%, and 36% of parents would go so far as to say their teen saves more than they do.

Teens also consume a little more than 13 hours of financial content each month.

But the kids can’t take all the credit. Almost every parent polled has discussed the topic of saving with their child (96%), with 87% doing so on at least a monthly basis.

Still, nearly one in five parents (17%) admit they’ve never discussed investing with their teen and another 14% said the same about building credit.

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“While it’s encouraging to see so many parents discussing saving on a regular basis, and 39% are helping their teen already build credit, it’s important to find time to have other financial conversations with their teen,” said a OnePay spokesperson. “According to the results, a little more than two in five find most of these conversations happen during the everyday moments or while eating a meal together at the kitchen table, giving parents an easy opportunity to prepare their kids for their future.”

To put their financial fortitude to the test, the survey gave both teens and their parents a hypothetical $1,000 to invest and found that while their financial approaches are similar in some ways, they also diverge quite a bit.

Parents would place the highest amount in a high-yield savings account (36%), and they’d also diversify by investing in retirement accounts (24%), the stock market (24%) and CDs (certificate deposits) (20%).

Teens mirror their parents in opting to put the biggest chunk of money in a high-yield savings account (35%), followed by the stock market (22%) and cryptocurrency (20%). .

But investing is only part of the picture. The survey also asked teens what they think their financial life will look like in 10 years.

Many teens mentioned they think they’ll have a good job, degree or general financial stability, but others specifically mentioned specifics like good credit history, multiple sources of income or funding a “tax advantage retirement account.”

Some teens want to start their own businesses or support their loved ones, while others fear student debt may hold them back or hope to avoid the 9-to-5 norm entirely.

“The research shows that today’s teens are planning their futures while weighing the entire financial landscape in a way that other generations haven’t before. Many of their goals are realistic and attainable with practical habits,” said a OnePay spokesperson.

WHAT DO TEENS THINK THEIR LIVES WILL LOOK LIKE FINANCIALLY IN 2036?

• “I think I will have a good job at my family's business and have a good credit history.”
• “I think my life will look good because my father teaches me about different financial situations and how to deal with them, so I’m confident.”
• “I think my life would be financially stable, [with] multiple different incomes.”
• “She says that she thinks she will be a millionaire in ten years because of the work she's doing online with her content creation and her follower count increasing; she believes she will easily make a few million dollars in the next ten years thanks to sponsorship deals and collaborating with other content creators.”
• “I want to be funding [a] tax-advantaged retirement account for myself and have the interest work for me.”
• “I want to open my own business making plenty of money.”
• “Our own land with a little farm and big backyard and everything”
• “I will be able to sustain myself, help my mother, my grandmother and my sister.”
• “I will have a job that pays my bills and lets me do fun things.”
• “Poor like everyone else in America”
• “I will have a nest egg savings and be mostly debt free.”
• “I will just be finishing medical school hopefully, so likely in debt with student loans.”
• “Pretty good. I plan to live in a van to not have rent and other bills and have an online job so I can work anywhere.”

Research methodology:

Talker Research surveyed 2,000 parents of teens ages 13 to 17 who have access to the internet; the survey was commissioned by OnePay and administered and conducted online by Talker Research between Sept. 23 to Sept. 28, 2026. A link to the questionnaire can be found here.

To view the complete methodology as part of AAPOR’s Transparency Initiative, please visit the Talker Research Process and Methodology page.