Young consumers don’t think the way previous generations built wealth will work for them anymore—and that means the old ways of learning about and managing their finances no longer apply. As with most else, they’re managing their money on their phones, which means even making payments is going mobile. So, peer-to-peer payment apps have gained a big following with Gen Z and Millennials—the vast majority of whom are using at least one of these apps for everything from paying their friends back for dinner to paying their rent. Now, these brands have an opportunity to catch Gen Z’s affinity as they become more financially independent. After all, two of Gen Z’s top three resolutions for 2023 are finance-focused: to earn more money (45%) and save more money (43%). By the end of this year, the oldest of Gen Z will have reached 22-years-old (according to YPulse’s definition of the gen), and our Personal Finances & Servies report found that already, a third of this gen says they’re already financially...
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