The news: Parents are talking to their children about money earlier and more openly than previous generations, creating an opportunity for banks to build relationships from the start of their financial journeys, per U.S. Bank’s recent survey.

Zoom in: The data highlights several opportunities for banks to support families before children become banking customers:

• 67% of parents have already started or plan to start teaching basic money management before their children turn 12.
• Nearly 90% of parents are comfortable talking with their children about money, signaling a  generational shift toward greater financial transparency.
• 62% of Gen Z adults say money was discussed while they grew up, compared with 49% of Baby Boomers, suggesting these conversations are becoming more common across generations.
• More than 90% of parents believe it's important for children to learn how to save, budget, and set financial goals.
• Parents rank their own spending and saving habits as the single biggest influence on their children's financial understanding—ahead of schools, peers, or social media.

Yet, only about half of parents have opened a youth bank account for their child.

Why it matters: Parents recognize the value of teaching financial skills, but many need guidance translating that intent into action. Youth banking products can help bridge this gap while building long-term relationships with both parents and the next generation of customers. 

Banks that make it easy for families to learn, save, and manage money together are well-positioned to strengthen customer loyalty and lifetime value.

Recommendations for banks: The findings also come as Trump Accounts increase competition for young families' financial relationships. While government-backed investment accounts focus on long-term wealth accumulation, banks can differentiate by offering financial education tools that include:

• Youth checking and savings accounts with no monthly fees and parental controls.
• Goal-based savings features that let children save toward specific purchases while parents contribute or match savings.
• Allowance and chore management tools built into mobile banking.
• Gamified financial education content within the banking app, such as short lessons, quizzes, or spending insights tied to real transactions.
• Family banking dashboards that let parents manage multiple children's accounts, transfers, and savings goals from one place.
• Teen investing or custodial investment accounts for older children learning about long-term wealth building.
• Family rewards programs that encourage saving and completion of financial education milestones.

This content is part of EMARKETER’s subscription Briefings, where we pair daily updates with data and analysis from forecasts and research reports. Our Briefings prepare you to start your day informed, to provide critical insights in an important meeting, and to understand the context of what’s happening in your industry. Non-clients can click here to get a demo of our full platform and coverage.