A new survey finds young Americans are ditching long-term financial ideals in favor of strategies built for today’s economic realities, and the numbers tell a striking story.
Nearly 80% of Gen Z and Millennials are relying on what researchers are calling “survival spending” to navigate the current economic landscape, according to a new survey released by Beyond Finance and Operation HOPE.
The findings, published as part of Beyond Finance’s annual Financial Practice Week, reveal a generation not abandoning financial responsibility but radically redefining it.
The research paints a picture of young Americans making calculated, real-time decisions in response to an economy that many feel was not built for them.
From how they spend tax refunds to when they disclose their bank balance on a date, the data challenges long-held assumptions about Millennial and Gen Z financial habits.
Bills Before Beaches: Where the Money Actually Goes
When it comes to tax refunds, often framed in popular culture as a windfall for travel or treats, the reality for younger Americans looks very different.
According to the survey, 45% would use a tax refund to cover bills or pay down debt. By contrast, fewer than 4% would spend it on travel or leisure.
The findings extend beyond tax season. Nearly 77% of respondents report using short-term financial tools like Buy Now, Pay Later for everyday essentials, not luxury items, signaling a broader shift toward immediate financial management over long-term wealth accumulation.
Side hustles, once considered optional income boosters, have now become a baseline necessity. 71% say additional income streams are required just to keep up with their current expenses.
Experiences Now, Retirement Later — Maybe
Perhaps one of the more revealing findings is how young Americans are weighing the present against the future.
59% say spending on meaningful experiences today feels more practical than saving for long-term goals, while 65% expressed uncertainty about whether traditional retirement planning will actually deliver financial security.
With 7 in 10 respondents saying wealth-building feels out of reach, the shift in priorities is less about impulsiveness and more about a rational response to a system many no longer trust to reward patience.
Who Are They Turning To For Advice?
The survey also highlights a notable generational shift in where young people seek financial guidance.
Gen Z is now more likely to consult social media experts (24%) than their own parents (21%) when making money decisions, which is a sign of how peer-to-peer financial learning is reshaping traditional mentorship models.
Meanwhile, 39% of respondents are already using artificial intelligence to budget or inform financial decisions, often running “what if” scenarios before committing to major moves. The trend points to a hybrid approach that combines AI insights with human guidance for more personalized financial planning.
For those who prefer a more gamified approach, 16% report using apps that turn saving and spending into interactive habits, reinforcing financial behaviors through continuous digital engagement.
Money Talk Is No Longer Taboo
Financial transparency is also becoming a dating prerequisite.
The survey found that 73% of respondents want to know someone’s exact financial situation before the third date, suggesting that “financial silence,” once a social norm, is rapidly disappearing among younger generations.
What the Experts Are Saying
Dr. Erika Rasure, chief financial wellness advisor at Beyond Finance, pushed back on narratives that frame younger generations as financially irresponsible.
“Gen Z and Millennials aren’t failing at money. The system they inherited has changed, and they’re responding in real time,” she said.
“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. That adaptability isn’t a weakness — it’s a new form of financial resilience.”
John Hope Bryant, founder, chairman, and CEO of Operation HOPE, framed the issue in broader social terms.
“Every generation must answer the economic test of its time, and this generation is no different. Gen Z and Millennials are not walking away from success. They are searching for a model that speaks to their lived reality, their struggle, and their hope. The old rules alone cannot carry them where they need to go. We must give them something deeper than theory. We must restore their sense of unlimited possibility, backed with vision, tools, and a pathway. At Operation HOPE, we believe financial literacy is the new civil rights issue of our time. And our calling is to help this generation move from uncertainty to confidence, from surviving to thriving, and from financial stress to lasting wealth — so they can build not just a living, but a future.”
The Bottom Line
What emerges from this research is not a portrait of a generation giving up but one actively adapting. Young Americans are using every tool available to them, from AI and social media to Buy Now, Pay Later platforms and side gigs, to maintain a sense of control in an economy that offers few guarantees.
The survey data suggests that financial success for Gen Z and Millennials may ultimately look different from previous generations: less defined by retirement accounts and savings milestones, and more by resilience, flexibility, and the ability to stay afloat, and perhaps eventually thrive on their own terms.
The research was conducted as part of Beyond Finance’s Financial Practice Week, in partnership with Operation HOPE, a leading financial literacy nonprofit.
Survey data sourced from Beyond Finance and Operation HOPE, released April 21, 2026.
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