How Much Money Does the Average Student Have After High School? Surprising Facts and Real Stats

If you’ve ever eavesdropped on a bunch of high school seniors, talk almost always seems to end up on money. Some are worried about college fee dues, a few chat about what their summer jobs have really brought in, and others seem to have nothing saved at all. The honest answer to "how much money does the average person have after high school?" is kind of jarring: it's usually less than you’d guess, but there are some totally wild exceptions too. There’s no trust fund waiting for most, but you won’t find many open conversations on where the typical eighteen-year-old actually stands. So, let’s skip the empty generalizations and take a look at true, current numbers and what drives them.

The Real Numbers: What’s Actually in the Bank?

Start with the basics: the Federal Reserve’s most recent Survey of Consumer Finances, which lands every three years, firms up a surprising reality—most recent high school grads haven’t stacked much. Digging into the numbers from 2022 (still the freshest, even in 2025), the median personal savings for people aged 18–24 sits just under $1,500. That doesn’t sound impressive, but it makes sense when you think through a normal teen’s financial routine. A lot of money that passes through a teen’s hands disappears on stuff like food delivery, movie nights, gas for the car, or graduation celebrations. Their checking account balance isn’t reflecting some big nest egg.

More telling: a 2023 Junior Achievement survey polled 1,000 American teens between 13 and 18; 60% said they had less than $1,000 saved. Fewer than 10% reported having more than $2,000 by the end of high school. It gets more sharply divided when you dig into students who worked jobs, got an allowance, or maybe received gifts from relatives versus those who didn’t have those options. About three-quarters of teens said family or friends helped pay for big expenses—so independent savings often just isn’t happening for most.

Here’s where it gets messy: some don’t have any actual savings to speak of, or they’re already carrying debt from small personal loans, car payments, or buying a phone on contract. Add in the fact that 42% of American parents say they can’t afford to help with college costs at all, and you can see there’s no single answer for everyone. Some high schoolers walk across the stage with $5,000 squirrels away from jobs, and some start adulthood with less than $100—a literal lunch-money cushion.

If you’re reading this average and feeling bad, take comfort: most of your peers are managing small amounts, not thousands saved by age 18. The average money after high school sits firmly between $500 and $2,000 for most recent grads across the U.S.

Why Is the Average So Low? How Jobs, Family, and Spending Habits Shape Teen Savings

Teen jobs might sound common, but fewer high schoolers are working in 2025 than you’d expect. According to the Bureau of Labor Statistics, the employment rate for teens aged 16–19 was just about 35% in 2024. Go back twenty years, and it was around 45%. Fewer after-school jobs means less cash coming in, and let’s be real—working a minimum wage gig for 10 hours a week doesn’t fill your Venmo balance quickly.

The high schoolers who do work? Most aren’t pocketing their whole paycheck for savings. On average, just 20–25% of earned income goes into a savings account—according to a 2023 Experian report on Gen Z bank habits. The rest vanishes on daily wants: fast food, phone upgrades, even maintaining a car. Some teens do budget and save steadily, but their social lives, sports fees, or the expectation to chip in at home can drain even the best efforts. Those with bigger family support often get a head start, but it’s not the norm.

If family financial background is comfortable, teens might stash away graduation gifts, but there’s also no drive to hustle at a part-time job. Feelings of “my parents will pay if I’m short” keep some from saving hard. On the flip side, kids supporting siblings or contributing at home might not keep a dime beyond the necessities. It’s a tale as old as time: opportunity and lifestyle shape how much you can save way more than pure financial discipline.

Throw in other blockers: High school is the time of driver’s license fees, prom tickets, sports team uniforms, and, for some, paying their own phone bills. A 2022 Charles Schwab study showed the top reason teens don’t have more cash saved is that they “find it hard to save when they have urgent expense needs.” A good chunk also said they just never learned how and don’t know where to start. Even access to basic banking is uneven—roughly 17% of teens don’t have a bank account at all.

Still, there are outliers. Some driven teens, especially those with tech skills, have side hustles or run reselling gigs that can haul in hundreds a month. Social media made it easier; a TikTok survey last year found 12% of teen creators make $200+ a month through content or sponsorships, but those numbers drop sharply for anyone not going viral. The big takeaway: it’s not usually a matter of hard work alone—circumstances set the limit for most young people, and the average stats show it.

What Are Other Countries Like? How US Grads Compare Globally

If you look beyond US borders, the picture jumps around. In places like Canada or Australia, things run similarly—teens work part-time, but typical savings hover in the $1,000–$2,500 range by high school graduation. Financial independence comes later, and parents often help with both school and first apartment deposits. The UK reports a median under-20 bank balance of about £400 (roughly $530 USD) as of 2024, with surveys showing many leave high school with little or no savings, just like their American peers.

Scandinavian countries are an interesting exception. Teens in Sweden and Norway are much more likely to have savings. In Norway, for instance, almost all students have their own bank accounts by 16, and it’s common to have $2,500+ put aside by graduation, helped along by government “student support” schemes or cultural pressure to save for a potential gap year. There, part-time work is encouraged—not just for pocket money, but as a step to adult independence. By contrast, Japanese teens will often save more due to a blend of fewer daily expenses and more generous family support, but college tuition is almost always paid by parents, so their savings don’t have to be massive.

The global trend is clear: most young adults start with a modest sum, unless their culture supports teen saving, there’s a state benefit, or parents are wealthy. Don’t let TikTok showboats—or wealthy outliers—skew your expectations.

So, this is a common struggle, not just an American one. But the lesson sticks: most teens around the world start small, build slowly, and face similar financial questions right after high school.

How to Do Better: Realistic Money Tips for High Schoolers (and Recent Grads)

So what should you do if you don’t have a pile of savings—and want to change that? You can build a cushion, even on the edge of high school graduation or as a freshman in whatever’s next. First, ditch useless pressure. Most adults did not save well as teens and got better with time. The goal is to start—doesn’t matter how small.

Kick off with a basic savings account, not a pile of cash in a sock drawer. Apps like Chime or Ally don’t have minimums, and you can set up an auto-transfer of $10 a week from whatever money lands in your hands. That small, boring step gets easier with time, especially if it’s money you’d otherwise waste on random snacks. If you ever get any gifts—birthday cash, graduation cards, whatever—stash at least 25% before you think about spending. That’s not stingy. It’s the fastest way to start seeing your bank balance rise.

Get creative with summer or part-time gigs. Babysitting, lawn-mowing, fast food, or even data entry for someone’s small business can bring in $20 to $100 a week. If you’re more tech-inclined, try reselling stuff online—old video games, sneakers, vintage tees. Flip what you don’t need, and bank the profit. Even ten bucks made that way is more than you had yesterday.

It’s also important to learn basic money tracking. Use an app like Mint or just note your expenses in your phone’s Notes. You’ll spot where your cash leaks out—maybe those $6 drinks you order every afternoon—or if you’re paying monthly for stuff you don’t use (looking at you, long-forgotten streaming memberships). Cancel what you can live without and redirect that money.

Don’t underestimate talking with family or trusted adults about money. If parents can’t help, they can still give tips or at least support you keeping your savings out of reach. Some local banks offer teen financial literacy classes over summer—sounds painfully boring, but usually you leave with free food, and sometimes even a $10 gift card.

If you’re off to college or a training program, make a real budget. Most research says meal plans and housing eat up more cash than anything else, so look into secondhand school supplies, campus job listings, or even simple side work like tutoring. Even if you come out of high school with only $50, the habit of saving, trimming expenses, and thinking ahead is 100% worth more than sheer dollar amount as a teen.

• Start with a savings account and set up auto-transfer—even tiny, regular amounts add up.
• Bank at least a quarter of unexpected money, like gifts or bonus checks.
• Track your spending—apps help, but even a paper list is fine.
• Find low-effort side gigs (babysitting, resale, tutoring—it doesn’t have to be fancy).
• Ask for real-life advice from someone older you trust; most have been where you are.
• Be patient—consistency always beats big, one-time saving sprees.

You never have to feel bad for having a “low” average. Comparing to fake internet stories is a losing game. What counts is building a little financial base, learning by doing, and realizing almost everyone else started with what seemed like pocket change, too. Even if you’re not rich at 18, you can be way savvier than most adults—now that’s a win.