"We need to give teens supervised access to financial tools earlier in their lives. Let them learn financial responsibility through real experience. Help them build smart money habits in a controlled environment. By the time they hit 18, every teen should have the financial knowledge-and the confidence-to manage their money independently."
"Locking them out until adulthood is an outdated approach that's damaging the financial health of the U.S. consumer. On the flip side, granting full access to everyone turning 18 despite a lack of any meaningful financial experience is like handing someone keys to a car on their birthday without letting them practice driving. It's dangerous. It means a steeper learning curve, higher stakes, and tons of missed learning opportunities."
"Keeping teens sidelined doesn't just hold them back. It hurts the economy and undermines future growth. The rules of money were written for the few, not the many. Those with access build wealth and opportunity-like teens who get a debit card early-learn to budget with guidance, and even get a chance to build credit before college. By 18, they're ready for loans, apartments, and independence."
Teens adopt smartphones and participate in the economy by early adolescence, transacting, earning through digital channels, running online businesses, and pursuing passion projects. The current financial system largely locks teens out of formal financial tools until adulthood, creating a steep and risky learning curve at 18. Supervised access to financial tools earlier would let teens learn responsibility through practical experience, build smart money habits in controlled environments, and gain confidence and credit readiness before independent adulthood. Early supervised access would reduce wealth gaps by expanding financial opportunity beyond the privileged, improve consumer financial health, and strengthen long-term economic growth.
Read at Fast Company
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