Half of Gen Z lacks key financial knowledge. Here's who is stepping in.
While Gen Z may be fluent in TikTok trends and digital culture, a new survey reveals significant gaps in their understanding of personal finance. According to a study by the writing platform EduBirdie, which polled 2,000 Americans aged 18 to 27:
- **46%** couldn’t explain what cryptocurrency is.
- **33%** were unsure about fundamental concepts like inflation and interest rates.
- **8%** didn’t know how many cents are in a dollar—**2% guessed 10**, **3% said 50**, and **3% believed the number fluctuated with inflation**.
With rising living costs and growing uncertainty around safety nets like Social Security, experts stress the urgent need for improved financial literacy among young adults. The good news? Progress is underway. As of now, **30 states**—up from just 17 in 2022—require high school students to complete at least one standalone semester-long personal finance course before graduation, according to the nonprofit **Next Gen Personal Finance**.
But classroom lessons alone aren’t enough. Companies and nonprofits are stepping in to bridge the gap with real-world financial experiences.
Learning by Doing: Capital One’s Café Ambassador Program
Calique Barnes, now a freshman at Morehouse College, was a high school junior when he landed a paid internship as a **Capital One Café Ambassador**—a program targeting students in underserved communities. During his senior year, Barnes worked in one of Capital One’s hybrid café-bank locations, where he learned how to navigate credit, debt, and budgeting—topics rarely discussed in his household.
“To God be the glory, they chose me,” Barnes said. “Money management was nonexistent in my family and community. Now I can teach my kids, family, and friends how to set themselves up for the long run.”
He even offers unsolicited advice to his mom. “When she made financial decisions I didn’t agree with, I’d explain why—and she was surprised. She jokes, ‘Oh, you’re a financial adviser now.’”
Barnes practices what he preaches: he adapted the popular **50/30/20 budgeting rule** (50% needs, 30% wants, 20% savings/debt) into a **50/20/30 split** to prioritize saving more for college.
Intuit’s Hands-On Approach: Food Trucks and Financial Skills
Financial software giant **Intuit** is taking financial education a step further with its **Intuit for Education** initiative, which aims to reach **50 million students by 2030**. Through free digital curriculum and experiential programs, students learn not just theory, but how to apply money skills in real life.
One standout effort is the **Intuit Food Truck Program**, launched in 2023 for career and technical education students in underserved communities. Participants receive a food truck or mobile cart, startup grants, culinary training, and access to Intuit’s business tools like **QuickBooks**.
So far, nearly **10,000 students** across cities like Los Angeles, Dallas, Denver, and Nashville have run their own food trucks—managing sales, pricing, inventory, and marketing. This year, the program is expanding to Atlanta, Fort Lauderdale, and Milwaukee, with another 10,000 students expected to join.
“It’s not just about balancing a budget,” said Dave Zasada, VP at Intuit for Education. “It’s about building confidence to turn ideas into reality.”
Students also give back: this holiday season, each food truck is serving **free meals** to those in need—reaching an estimated **3,500 people nationwide**. Through this, they see how financial literacy can drive both personal success and community impact.
The Takeaway
While Gen Z may be digitally native, financial fluency doesn’t come automatically. But with innovative programs that connect classroom learning to real-world experience—from bank cafés to student-run food trucks—young people are gaining the tools to understand money **and** make it work for them.
As Mindy Bingham, author of *Lifestyle Math*, puts it:
> “Every teen deserves to know not just how money works, but how money can work for them. That’s what changes behavior—not just vocabulary or worksheets, but real numbers tied to their own lives.”