Gen Z, Millennials Struggle With Financial Decisions, Turn to Digital Advice

Generation Z and Millennial U.S. adults are struggling to remain financially stable and are leaning on artificial intelligence for advice on financial decisions. According to a recent study by the debt consolidation company Beyond Finance and the nonprofit Operation Hope, more than three-quarters of respondents (77%) reported using “survival spending” tactics, including “buy now, pay later” services and borrowing money from family, to cover essential expenses such as groceries and utilities.

The report, “Rethinking Money: Why a New Financial Playbook is Emerging for Young Americans,” found that an average of almost two out of five (39%) Gen Z and Millennial respondents used AI to budget or inform financial decisions, with 27% using AI to run financial scenarios such as buying a home.

Many respondents also said they combined AI insights with human financial advice. Gen Z skewed more heavily toward this kind of AI use, with 31% relying on hybrid advice, whereas 24% of Millennials reported using a combination of human and AI advice.

“What we’re seeing is a generation shifting from long-term financial ideals to daily financial practices, such as using windfalls to stabilize, leaning on tools like AI to make decisions, and prioritizing what’s immediately within their control,” said Erika Rasure, Beyond Finance’s chief financial wellness adviser, in a statement.

Gen Z’s need for guidance was emphasized in another report by Everfi, an educational technology company. In “State of Teen Financial Literacy 2026,” 23% of teen respondents said they had little to no preparation to set up and follow a budget, and 20% said they had little to no preparation to recognize money-related scams.

Teens also reported growing digital use, as 51% of students said they currently use a mobile banking app, and another 26% planned to start using one within the next year.

“Access to investing and financial tools has expanded rapidly, creating a powerful opportunity to strengthen financial education,” said Ray Martinez, Everfi’s CEO, in a statement. “Young people can now engage with money in real time, which makes it essential that education keeps pace.”

The Everfi report was based on responses collected from June 2025 through February 2026 from 133,000 students participating in Everfi’s high school financial education programs.

Beyond Finance and Operation Hope’s survey included 2,000 Gen Z and Millennial adults and was conducted by third-party research company QuestionPro from March 16 through 18.