Forget dusty bank statements and grumpy tellers. Gen Z wants mobile banking simplicity. Mobile wallets, banking apps, peer-to-peer apps like Apple Wallet, Chime, and Cash App are where it's at. They let users check their balance, transfer funds, pay bills, and pay back their roommate for dinner last night. Plus, many apps like Monarch have budgeting tools and financial insights to help with the challenge of adulting.

By starting to save early, Gen Z can set themselves up for a secure and comfortable future. As a result of starting retirement planning earlier and strong employer retirement benefits at companies like Boeing, Charles Schwab, Citigroup, etc. - Gen Z has surprisingly higher retirement savings than previous generations at the same age. For those without generous employers, investment apps like Stash or Acorns offer automated options that make saving for the future easy.

Thanks to the $84 trillion dollar Great Wealth Transfer just over 40% of Gen Z is expected to inherit wealth within 5 years. What will they do with it? Just over 50% said they've gotten poor advice after a financial windfall so they will likely be cautious. But are social media finance hacks safer? Both Millennials and Gen Z are inclined to have at least tried social media “finance hack” trends like day trading, infinite banking, or the no-spend challenge. We’re hopeful they put great Grandma’s inheritance away for a rainy day - or at least pay down some student debt.