Gen Z Needs Better Tools to Improve Their Financial Outlook

Survey finds the Gen Z population reporting distinct financial concerns in the face of a challenging economy. 

85% Report at least one significant barrier to financial success 

73% Have changed spending habits to pay less on groceries and gas  

67% Say they’re confident in their ability to manage credit 

56% Don’t have enough emergency savings for three months of expenses 

45% Feel well equipped to save for retirement 

37% Have experienced a financial setback in the last year 

Source: Bank of America, “Better Money Habits Survey,” October, 2023