In 2025, the typical American teenager isn’t just consuming content on TikTok—they’re consuming everything. From beauty products on TikTok Shop to the latest sneakers purchased with Apple Pay, teens are flexing more financial influence and freedom than ever before. Recent data shows that 42% of U.S. teens shop via TikTok, 39% use debit or credit cards, and 33% rely on mobile payment apps like CashApp and Apple Pay to make purchases whenever they choose. That’s a significant amount of purchasing power in very young hands—but it doesn’t necessarily mean they’re equipped to manage it wisely.1
A 2025 Wakefield Research survey of 1,000 U.S. teens revealed some striking gaps in financial understanding. Nearly half of teens believe an 18% interest rate on debt is “manageable”—a viewpoint that would make most financial advisors cringe. Even more concerning? Only about a third said they save money for the future, despite almost half admitting they’re terrified they won’t have enough money to meet future goals. Teens often assume college guarantees financial success, overlooking the years of saving and choices behind their parents’ stability.1
What teens are learning—sometimes the hard way—is how to spend. And increasingly, that includes risky digital behaviors. Online gambling is becoming a quiet but powerful force among teens. A 2024 Lancet Public Health study found that 1 in 6 adolescents globally had gambled in the past year—and that number climbs to 1 in 3 in North America. 1
The spread of legal online sports betting in 30 U.S. states (as of early 2025) has made gambling more accessible than ever, and digital age restrictions are often easy to work around. This is why financial education advocates, like Next Gen Personal Finance, are creating curriculum units on gambling—at the request of teachers who see these risks firsthand.1
In March 2025, Kentucky became the 27th state to require a personal finance class for high school graduation—a significant shift, considering fewer than 10 states had such a requirement just five years ago. Many adults agree that schools need to step up. A 2022 National Endowment for Financial Education survey found that 88% of adults support a required personal finance course for graduation. While parents are often seen as the first line of financial education, many admit they weren’t taught much themselves—and worry their kids will turn to TikTok “gurus” for advice on building wealth overnight.1
In a world where teens can spend real money with a swipe, tap, or emoji, financial literacy is no longer a luxury—it’s a necessity. Teaching teens how to spend, save, and invest wisely isn’t just about protecting their wallets—it’s about protecting their futures. If you are interested in becoming an Advocate for the Innocent member and gaining access to our Resource Center ($10/month or $99/annually), visit https://advocatefortheinnocent.org/memberships/ to learn more.