Understanding Gen Z’s Financial Health
Gen Z—Americans born between 1997 and 2006—is entering adulthood at a challenging financial moment. With inflation, student loan pressures, and rising housing costs, it’s no surprise that many are feeling overwhelmed. But there’s good news: Gen Z is taking an active interest in managing their money.
According to the 2024 Better Money Habits study by Bank of America, Gen Z is focused on building strong financial foundations:
- 24% say improving their credit is a top financial goal
- 22% want to pay off debt
These insights show a generation motivated to make smart money moves—yet still in need of education, structure, and the right financial tools.
Budgeting: A Key to Financial Wellness for Gen Z
Learning to budget is one of the most important steps toward financial freedom. For young adults juggling rent, student loans, side gigs, and limited income, a strong budget can:
- Track income and expenses
- Prioritize essential spending
- Create room for savings and debt repayment
- Reduce financial stress
- Help build and maintain good credit
At American Consumer Credit Counseling (ACCC), we offer free tools and expert guidance to help Gen Z start strong. Whether you’re trying to set up your first budget or improve an existing one, we have budgeting resources designed just for you.
Credit Counseling for Gen Z: Getting Ahead Early
Many Gen Zer’s are just beginning to use credit cards or take on student loans—and they’re already aware of how important credit is. A healthy credit score affects everything from loan approvals to interest rates, insurance premiums, and even employment screenings.
Improving credit takes time and consistency, but there are practical steps young adults can take today:
- Make on-time payments
- Keep credit utilization low
- Monitor credit reports for errors
- Get support from certified counselors if needed
ACCC’s credit counseling services can help Gen Z understand credit and create a plan to improve or build their scores.
Tackling Debt: How Young Adults Can Take Control
With 22% of Gen Z aiming to pay off debt, it’s clear that eliminating financial burdens is top-of-mind. Whether it’s credit card balances or student loans, debt can feel overwhelming—but the right plan can make all the difference.
Through a Debt Management Plan (DMP), ACCC helps young adults consolidate payments, reduce interest rates, and get on track to becoming debt-free faster.
Support for Gen Z’s Financial Journey
If you’re part of Gen Z and feeling unsure about where to start with your finances, you’re not alone—and you don’t have to figure it out by yourself. ACCC is here to help with:
- Free budgeting worksheets
- One-on-one credit counseling
- Debt repayment plans that work with your income
- Educational content tailored to young adults
We believe that financial wellness starts with the right tools, guidance, and support. That’s why we’re committed to helping Gen Z build a strong financial foundation from the ground up.
Take the First Step Toward Financial Confidence
Whether you’re trying to build credit, create a budget, or pay off debt, ACCC is here to help. Our nonprofit credit counseling services are always confidential, judgment-free, and designed with your goals in mind.
Get started with a free financial consultation and take control of your financial future today.
If you’re struggling to pay off debt, ACCC can help. Schedule a free credit counseling session with us today.
