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How teens will bank in the future may depend on how they bank now

  • Financial products designed for teens are increasingly hitting the market this year.
  • Teens want financial education as part of their banking services.
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How teens will bank in the future may depend on how they bank now

With malls no longer a spot for regular hangouts, teens are shopping less than usual. In comparison, though, their spending activity online is still high, with 90% reporting shopping online during the Fall, according to Piper Sandler’s biannual “Taking Stock with Teens” report. 

With cash almost out of teens’ everyday vocabulary, there’s now an increased need for tools that help these Gen Zers manage and budget their spending habits in a digital setting. Parents want their teens to be aware not only of how much they’re spending but also how they’re spending. 

 


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