Gen Z is navigating one of the most expensive periods to be a young adult in recent memory. 42% claim they are living paycheck to paycheck, while fewer are receiving some sort of financial assistance from their parents or other family members (34% vs. 39% in 2025). But Gen Z isn’t waiting for someone to fix things for them. They’re actively saving, cutting costs, getting creative with social plans and finding ways to make it work – even when the pressure is on. Here’s a look at some of the trends emerging from the Bank of America Better Money Habits® survey of Gen Z.

High Cost of Living Continues to Strain Gen Z

The high cost of living remains a significant barrier, with nearly half citing it as a top barrier to financial success. According to Bank of America Institute, median rent growth for Gen Z and Millennials slowed significantly in the 12 months to February 2026 compared to 2024 and 2023. However, housing costs still weigh heavily, with nearly 30% of Gen Z surveyed pointing to housing and rent as top barriers to financial success, a figure that has remained consistent in recent years.

The $0 Date: Gen Z Feels the Financial Pressure on Romance

When it comes to money and dating, Gen Z doesn’t mess around. Even though they aren’t spending a lot on dating, they value having a partner who takes financial responsibility seriously. Over half spend $0 per month on romantic dates and 14% spend less than $50 per month. 74% say financial responsibility is important in a partner, and 43% view irresponsible spending as a dealbreaker compared to 33% for Millennials.

Gen Z is “Loud” and Transparent About Money

Gen Z is more transparent than older generations when talking about money. Instead of suffering in silence, they’re helping each other out as they figure out finances in adulthood. 75% of Gen Z take active steps to save money when making social plans and 42% practice “loud budgeting” by being vocal with friends about what social outings they can and cannot afford.

Little Treats with a Side of Guilt

Still, Gen Z hasn’t given up on small indulgences. In fact, 92% treat themselves, and over half do so at least once a week or more, whether to cheer themselves up or celebrate a win. At the same time, the spending remorse is real: 41% experience financial guilt at least once a week and 40% seek validation from family or friends before or after making a purchase. When it comes to priorities, 67% say they spend more on goods than experiences, and 19% say they’d choose material goods for themselves even if it means spending less on experiences with others.

These findings deepen our understanding of Gen Z’s approach to money, their financial challenges and what their goals are, while strengthening our ability to meet their needs with resources and guidance for every phase of their financial journeys. Read the full report here.

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