Predicting savings and mental accounting among adolescents: The case of college

► This study predicts adolescents' savings and mental accounting at ages 12 to 15. ► Panel Study of Income Dynamics and Child Development Supplement data is used. ► Gaps in adolescents' savings and mental accounting exist along class lines. ► Head's education level and parents' savings significantly predict both outcomes. ► Institutions may facilitate adolescents' savings and mental accounting.