SAN FRANCISCO – April 12, 2021 – For decades, many Americans have been taught that money is a taboo topic. In fact, a 2019 report by The Harris Poll revealed that people would rather discuss politics, health issues and religion over personal finances. Gen Z, however, is breaking this mold.

According to a new survey from Step, the modern-day financial services company built for teens and families, a whopping 97% of teens think financial literacy is important and expressed concerns about being written off by traditional banks.

Additionally, as the pandemic has driven more teens to get financially fit, 38% say they still lack the educational resources needed to achieve financial independence. As a result, teens are taking initiative, looking to fintech platforms and social media to help fill this gap.

“While it’s great to see the continued shift towards digital banking, that alone is not enough to combat the financial literacy crisis,” said CJ MacDonald, Founder and CEO at Step. “Teens need products that can be easily embedded within their daily lives and prioritize education as much as functionality.”