How COVID-19
Transformed Kids' Money Habits Forever

The US Youth Economy Report

This year, our Youth Economy Report gives unique insight into the various ways in which the youth economy has been impacted by the COVID-19 pandemic.

Download Report

2020
was a year like no other

The global pandemic changed the way we all interact with money. As we navigated lockdowns, social distancing and quarantines, children and teenagers faced huge upheaval – their schools were closed, exams were canceled and social contact with friends and extended family was strictly limited.

Adapting to change

We know that living through COVID-19 has had a significant impact on young people across the globe. Our data on the earning, saving, spending, and giving habits of US children and teenagers indicates that the events of 2020 may have transformed kids' money habits for life.

Soaring savings

When the pandemic first hit, children saved much more than usual, especially older teenagers

Key Highlights

A detailed breakdown of how much children receive in spending money by age, gender and location

Children say that money worries have affected their mental wellbeing since the start of the pandemic

Charitable giving increased, as young people recognized that they could use their money to help others

Lucrative paid tasks such as gardening, car washing and daily exercise boosted kids' earnings

The shift to a cashless economy, as children admit that they’re wary of handling cash since the outbreak of COVID-19

Over half of children's spending now takes place online, driven by a huge increase in gaming spend

To find out more

Click on our reports below to find out just how Gen A's and Gen Z's attitudes to money have been shaped by the events of the past year.

Making every kid good with money

© gohenry Inc. The gohenry card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International.


Our office is located at 54 W 40th St, New York, NY 10018 USA

By using this site, you acknowledge we use cookies to improve your experience. Privacy policy