Generation Z’s Biggest Financial Concerns in 2023

Generation Z is America’s future. The oldest members of this age group are 26, meaning they are just starting to make their mark on the world. And like adults of any age, they share some worries about money.

Among members of Gen Z — born between 1997 and 2012 — a handful of financial concerns are top of mind, according to a Northwestern Mutual survey of 2,740 adults for its 2023 Planning & Progress Study.

In particular, members of Gen Z identify the following issues as their top financial concerns.

1. Inflation

Gen Z respondents who cited this financial concern: 38%

These days, most adults are worried about inflation. Members of Generation Z are no exception. They also are pessimistic about rising prices, with 61% expecting prices to continue to rise and just 15% expecting them to fall.

If you are worried about rising prices, check out “10 Sure-Fire Ways to Beat Inflation.”

2. Gas prices

Gen Z respondents who cited this financial concern: 26%

The good news is that gas prices are considerably lower than they were in 2022. The bad news is that they still are much higher than they were just a couple of years ago.

For tips on beating the pain at the pump, read “7 Smart Ways to Save Money at the Gas Pump.”

3. Climate change

Gen Z respondents who cited this financial concern: 22%

Gen Z represents the future, and there are times when members of this generation likely worry about what tomorrow will bring for the planet they inhabit.

Young adults who are looking for a new place to start their lives shouldn’t miss our story “These 10 Cities Are Most at Risk From Climate Change, Experts Say.”

Other financial concerns for Gen Z

Here are the rest of the top 10 financial concerns that members of Generation Z share:

• Job stability: 21%
• Debt: 20%
• Recession: 18%
• Political polarization: 17%
• Health care costs: 16%
• Global geopolitical conflicts: 12%
• COVID-19: 11%