Gen Z’s financial behaviors in 2025

Key findings:

• 78% of Gen Z have just one bank account, and 66% use mobile apps as their primary banking method.
• 32% of Gen Z are saving for an emergency fund, making it their top short-term financial goal.
• 49% say they use credit cards or loans only as a last resort, highlighting cautious borrowing habits.
• Half of Gen Z (50%) disagree that crypto is the future, and 73% wouldn’t give up traditional banking for it.

As financial services are evolving, knowing what consumers really value is important. According to recent YouGov Profiles data, Gen Z customers show distinct preferences, behaviours, and expectations when it comes to managing money, opening accounts, and interacting with banks.

Here are six data-backed insights into how Gen Z in the US engages with finance —and what banks and financial institutions should know.

1. Most are just getting by, and a quarter can’t budget

Just over one-third (35%) of Gen Z say their income allows them to save a little each month, while 22% say they cover their expenses but cannot save. About one in four (23%) report falling short of covering their expenses. Financial caution appears to be common: 70% of Gen Z agree that they are more careful with their finances than they used to be.

Still, one in four Gen Z consumers (24%) admit to not having a budget at all. Another 12% say they often overspend despite budgeting.

2. Most only have one bank account and they’re using it via mobile

Simplicity is a theme: 78% of Gen Z respondents report owning just one bank account, while only 18% have two. This group is also firmly mobile-first — 66% use a bank’s mobile app for transactions, well ahead of other methods like internet banking (46%), ATMs (42%), or in-person branch visits (35%). Only 14% interact with banks over the phone, and very few use third-party apps (9%) or live chat (5%).

3. Emergency savings take priority, but debt repayment and big purchases matter too

When it comes to saving, 32% of Gen Z are focused on building an emergency fund—the most commonly cited goal. Others are saving for a major purchase like a car or appliance (25%), paying off debt (21%), or planning a vacation (20%). Less than one in five (13%) are saving for retirement, and even fewer are putting money aside for education (11%), starting a business (10%), or property-related goals like home buying (19%) or improvements (9%).

This pattern suggests Gen Z is more focused on short- to medium-term financial needs rather than long-term wealth accumulation.

4. Loans and credit cards are a last resort for many

Nearly half (49%) of Gen Z say they only use bank loans and credit cards as a last resort, while 29% disagree with that statement. This reluctance may stem from a cautious financial mindset or a desire to avoid debt—especially among those who are already prioritizing savings or debt repayment.

5. Gen Z weighs risks and fees when considering investments

For Gen Z investors, risk level (45%), potential returns (37%), and fees/expenses (37%) top the list of factors when evaluating future investment opportunities. Historical performance (33%) and advice from trusted people (30%) also rank highly. Liquidity (20%), tax implications (19%), and market conditions (20%) follow.

6. Crypto divides opinion but most still trust traditional banks

When asked if cryptocurrencies are the future of online financial transactions, Gen Z respondents were split. While 30% say they agree, a larger share (50%) disagrees. When it comes to the idea of giving up traditional banking entirely in favor of crypto, just 15% say they’d be willing to do so, while 73% disagree.

This data highlights that, despite growing up with digital tools, Gen Z still sees value in traditional banking infrastructure.

Methodology: YouGov Profiles is based on continuously collected data through rolling surveys, rather than a single limited questionnaire. Figures are drawn from responses collected between November 2024 and November 2025, using a 52-week dataset updated weekly. Data is nationally representative of adults (18+) in the US and weighted by age, gender, education, region, and race.

Image: Getty Images