New Acorns Money Matters Report™ For
Kids Finds Gen Alpha Already Saving and Planning
for Their Futures, Motivated by Their Parents' Financial
Concerns
IRVINE,
Calif. and NEW YORK,
Feb. 4,
2025 /PRNewswire/ -- Acorns, the financial
wellness app, is proud to announce a milestone of one million kids
served in the U.S. with the recent launch of Acorns Early, a
smart money app and debit card made just for kids and teens.
Globally, the Acorns company has served over 3.3 million kids, with
multiple life stage products serving the needs of families
worldwide. A leader in lifelong financial wellness and education,
Acorns also just released its inaugural Acorns Money
Matters Report™ For Kids, a deep dive into the saving and
spending habits of the youngest generation. The new report finds
Generation Alpha in the U.S. to be forward-thinking, savvy and
driven by a desire for security.
Gen Alpha (born in 2010 or later) is emerging as an economic
powerhouse with an estimated $11.3B
in spending power*, according to the Acorns Money Matters
Report™ For Kids. The report also reveals that Gen Alpha is
planning for future financial milestones, with 19% already saving
for college, 24% saving for their first car, 11% for their first
home, and some, six percent, even saving for retirement.
"We can offer the next generation a lifetime of financial
wellness if we set them up with the right tools and knowledge early
on," said Noah Kerner, Acorns
CEO. "It's encouraging to see how mindful Gen Alpha already is
about financial security, and how quickly Acorns Early is growing
and making an impact."
The new Acorns Early smart money app and debit card is
designed to teach kids and teens the value of money. Kids start off
with chores, allowance, and interactive learning courses. As they
grow older, Acorns Early helps them understand their spending,
budgeting, saving, and more — all with support and guidance from
parents and experts along the way.
With only 50% of U.S. Gen Alpha reporting financial education in
school, this study underscores the significance of tools like
Acorns Early and early financial literacy at home. Gen Alpha
overwhelmingly trusts parents to teach them about money more than
anyone else (81% surveyed), including teachers (9%), politicians
and even popular celebrities, with the President and Taylor Swift each only receiving 3% of the
surveyed vote.
Earlier this year, Acorns' Money Matters Report™ revealed
significant financial fears among U.S. adults, with as many as a
quarter expressing concern their financial situation could lead to
homelessness and almost half lacking an emergency fund. The impact
on Gen Alpha is evident with nearly one-third using their allowance
to help at home and one-fifth already saving in an emergency fund,
according to this new report.
Additional key findings of the Acorns Money Matters Report™
For Kids which surveyed over 60,000 6- to 14-year-olds** and
2,000 of their parents, include:
- The influence of social media is fairly significant with more
than a quarter (28%) of kids and teens surveyed reporting to learn
about money from social media and influencers.
- Most kids and teens aged 10-14 hear their parents talk about
money often (63%), and a third (36%) want their parents to talk
with them about money more.
- Financial independence is a common driving factor among the 69%
of U.S. Gen Alpha who say they have started or are planning to
start a side-hustle. Top reasons include: to earn extra spending
money (58%); to save for the future (31%); and to learn new skills
to get a job they want in the future (27%).
To learn more about Acorns Money Matters Report™ For
Kids, Acorns Early offerings and updates, and Acorns' commitment to
empowering financial wellness, visit acorns.com/moneymatters.
Media Contact: acorns@ssmandl.com
About Acorns
Acorns is a financial wellness app that
helps everyday people and families save and invest money for the
long term. Since 2014, Acorns has grown into a global company with
multiple life stage products serving the needs of kids, teens,
adults and parents. Named one of TIME's "World's Best Brands of
2024," Acorns has served over 15.5 million people worldwide, and
helped customers save & invest over $25
billion dollars, much of it from spare change and small
amounts.
Investment advisory services offered by Acorns Advisers, LLC
("Acorns"), an SEC-registered investment advisor. Brokerage
services are provided to clients of Acorns by Acorns Securities,
LLC, an SEC-registered broker-dealer and member FINRA/SIPC. Acorns
is not a bank. Banking services issued by Lincoln Savings Bank or
nbkc bank, members FDIC. The Acorns Early card is issued by
Community Federal Savings Bank, member FDIC, pursuant to license by
Mastercard International. For more information, visit
www.acorns.com.
About the data:
Opinium:
The Acorns
Money Matters For Kids research was conducted anonymously by
Opinium Research and commissioned by Acorns. This survey was not
directed at Acorns customers. Any response collected from a
customer was coincidental. The survey was conducted from
October 4, 2024 through October 21, 2024, using Opinium Research's
nationally representative online research panel. The sample
population consisted of 2,000 U.S. consumers ages 6-14, comprised
of 1,056 males, 940 females, 4 nonbinary/preferred not to say and
2,000 U.S. parents of Gen Alpha ages 24-72, comprised of 615 males,
1,382 females and 3 nonbinary/preferred not to say.
The survey questionnaire was written by Acorns.
*Cebr:
Rounded up from $11,332,618,054.94. Cebr conducted a weighting
process on anonymised Acorns Early (formerly GoHenry) member data
based on 59,318 active U.S. Acorns Early (formerly GoHenry) members
born since 2010 between 06/28/22 and 06/27/23, compared to the
same group of members also active between
06/28/23 and 06/27/24. Weighting took place on the basis of
three demographic cross-breaks: age, gender, and region. Cebr is an
independent consultancy known for providing sound business advice
grounded in thorough and insightful research. Since 1992, Cebr has
been at the forefront of business and public interest research,
offering analysis, forecasts, and strategic advice to major UK and
multinational companies, financial institutions, government
departments and agencies, and trade bodies.
**The total number of Gen Alpha kids and teens included in this
study reflects the 2,000 6-14 year olds surveyed by Opinium and
internal data from 59,318 active U.S. Acorns Early (formerly
GoHenry) members born since 2010 between 06/28/22 and
06/27/23.
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