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 -- 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.
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