Zillennials: The Millennial-Gen Z Mash-Up with Unique Financial Needs

According to new research, Zillennials (a micro-generation between Millennials and Gen Z) exhibit distinct financial behaviors that are focused on savings and a desire for guidance. Here’s 5 key takeaways from Logica Research’s study on Zillennials’ financial behaviors:

  • Zillennials are unique in what they look for from their jobs. While they tend to align with Gen Z in many ways (e.g. a preference for remote/hybrid work, valuing a diverse workforce and looking for employers with social consciousness), they are also much more frugal, having watched their parents struggle through the Great Recession in the late-2000s and also being deeply affected by the pandemic.
  • Zillennials crave money management help more so than Millennials or Gen Zers. In particular, they request support with navigating financial challenges during uncertain economic periods, building a strong credit score and effectively managing debt.
  • Zillennials have a savings mindset that stems from the Great Recession and the pandemic. At the same time, they are also cautious with their information, seeking account options they feel are well protected against fraud and institutions that will not share personal data with outside parties.
  • Zillennials use technology for managing their finances. Zillennials are commonly recognized as adaptable and at ease with using digital platforms and devices and have demonstrated a high level of comfort with using generative AI in financial matters, including financial advisory services.
  • Talking with Zillennials about money requires a digital strategy. Zillennials want communication about financial products and services to come to them digitally and, in many cases, specifically through social media.