Rather than hide financial troubles, many in Generation Z talk about them openly. Some 42% of surveyed Gen Z adults practiced “loud budgeting”—being vocal with friends about what they can and cannot afford—according to Bank of America’s 2026 Better Money Habits survey. Sixty percent of respondents aged 18 to 29 told market research firm Ipsos they discussed money with friends, including once-taboo topics like salary (27%) and financial stress (24%).
Roughly half of Gen Z respondents cited the high cost of living as a top barrier to financial success, with about 30% specifically mentioning housing and rent, and 42% reported living paycheck to paycheck. Nevertheless, fewer people in the survey were relying on family for support—34% received some form of financial assistance from parents or relatives, down from 46% just two years ago.
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Three in four Gen Z respondents reported actively looking for ways to save when making social plans, including cutting back on dining out (cited by 40%) and skipping events (24%). Savings rates were climbing too: 66% said they were actively saving, up from 60% in 2024, and 16% reported picking up a side hustle.
More than three-quarters of respondents (81%) said it is important to be perceived as financially responsible, and finances even impacted romantic outlooks. Nearly one-quarter said they were delaying moving relationships forward because of a financial situation, and three in four said financial responsibility was important in a partner. Irresponsible spending was a dealbreaker for 43% of Gen Z respondents—compared with 33% of Millennial respondents who said the same.
“Gen Z knows money stress is real—but they’re meeting it head-on,” said Holly O’Neill, Bank of America’s president of consumer, in a statement. “They’re budgeting honestly, cutting back when they need to and having real conversations about money as they work toward their goals.”
The Most Generous Generation
While Gen Z navigates the early pressures of financial adulthood, a different story is emerging one generation up. Bloomerang, an intelligent giving platform, published the “2026 Giving Signals Report”—a study of 1,003 U.S. donors and 405 nonprofit fundraising leaders surveyed by the Harris Poll in March—and found that Millennials have become the most active donor segment in the country.
Three in four Millennial respondents (75%) planned to give more this year than last, compared with 49% of Generation X respondents and just 36% of surveyed Baby Boomers. Likewise, about 80% of surveyed Millennials planned to give to at least one new nonprofit in 2026, compared with 52% of Gen X and 30% of Baby Boomers. Among Millennial respondents, 42% reported having already used a donor-advised fund or other tax-advantaged giving vehicle in the past year.
What drove Millennial giving, the report found, was not belief alone, but belonging: 97% of Millennial donors said giving made them feel “part of something.”
“We keep talking about the wealth transfer like it’s on its way. It isn’t. It’s already happening,” said Dennis Fois, Bloomerang’s CEO, in a statement. “Millennials are not donors in waiting. They are the most active philanthropic generation in America right now.”
