Gen Zers put their paychecks to work, hoping to build their wealth

The trend: We knew Gen Zers’ top financial priority is saving, but new GOBankingRates research shows they’re taking real action to make that happen.

What are they doing? Once Gen Zers receive their paychecks, they:

• Budget: Gen Z is diligent about using budgeting apps and a traditional form of budgeting called “cash stuffing.” They track their expenses to make informed financial decisions and avoid overspending.
• Invest in crypto: Unlike older generations, Gen Z is open to investing in cryptocurrencies. A 2025 YouGov study found that 42% of Gen Zers own crypto, seeing it as a potential growth opportunity despite its risks.
• Save more with side hustles: Many Gen Zers work side gigs in addition to their main jobs, increasing their income and financial stability—and 13% say they earn more from these side hustles than their regular job. Common side hustles include freelance design, social media management, and e-commerce on platforms such as Etsy and Shopify.
• Invest: This generation leverages digital platforms like Robinhood to invest their money. They’re also interested in alternative investments such as private equity, commodities, and real estate.

What this means for banks: Gen Zers are driven to succeed financially, and financial institutions (FIs) can help them work toward their ambitious goals. This generation would benefit from their FIs reaching out with personalized advice on saving faster, but certain communication methods give them anxiety, per software provider GoDeskless. Here’s how Gen Zers prefer to be contacted:

• Messaging over calls: Offer communication through texts, in-app messaging, or chatbots instead of phone calls. Gen Z prefers asynchronous communication that gives them time to think and respond without the pressure of real-time interaction.
• Enhanced mobile experiences: Ensure banking apps are intuitive and user-friendly with clear options for customer service chats and support tickets. Real-time updates and transparent tracking, similar to ride-hailing or delivery apps, can create a more comfortable and familiar experience.
• Self-service options: Provide robust self-service tools within apps and websites that allow Gen Z customers to troubleshoot, manage accounts, or access FAQs without human interaction.