The nonprofit organization America Saves wanted to better understand the financial attitudes and habits of teenagers from low-income households as part of its program development. America Saves, a research-based campaign managed by the Consumer Federation of America, helps low- to moderate-income households save money, reduce debt, and build wealth.
Our experienced researchers were able to draw out their stories. They talked about the pride they took in having a job —and how it felt to buy new clothes. They told us about helping to pay for the family’s rent. We asked about their spending habits, borrowing money, having credit, mobile banking, when to start saving, and how to manage finances. We learned about their barriers to saving, daily temptations, and who they really trust with their money.