MoneyLion Survey Finds Summer Financial Pressure Hits Gen Z The Hardest

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MoneyLion (NYSE:GEN) released survey results on summer 2026 financial stress across U.S. adults.

Among 1,000 respondents, 52% say they need more money than last summer and 22% need “significantly more.” Gen Z reports the largest gap, with 33% citing significant shortfall and high use of side hustles.

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More than half of Americans say they need more money this summer than last year, with Gen Z more than twice as likely as boomers to say the gap is significant

NEW YORK, June 18, 2026 /PRNewswire/ -- Financial stress is pervasive this summer, but it's not evenly distributed across age groups. According to a new survey from MoneyLion, 52% of Americans say they need more money this summer than last year, with 22% saying they need "significantly more." Gen Z reports the sharpest shortfall: 33% say the gap is significant, compared to 23% of millennials, 20% of Gen X, and 15% of boomers.

The results reflect conditions that are particularly difficult for younger adults to absorb. Housing costs, student debt, and wage stagnation in entry-level roles are compressing budgets in ways that older generations largely avoided at the same life stage. Among respondents ages 18 to 24, 23% say they are moving back in with family or taking on roommates this summer because of financial pressure.

"Americans, especially younger generations, are working hard to keep up with rising costs, often without the financial foundation earlier generations could rely on," said Sarah DiCara, Financial Wellness Advocate at MoneyLion. "Our mission is to give everyone the power to make their best financial decisions, and this summer we're focused on helping people get ahead by connecting them with the products, content, and guidance they need to turn that effort into lasting financial progress."

Key Findings

• 52% of Americans say they need more money this summer than last year; 22% say "significantly more."
• Gen Z reports the highest rate of financial strain, with 33% citing a significant shortfall, compared to 23% of millennials, 20% of Gen X, and 15% of boomers.
• 23% of 18- to 24-year-olds are moving back in with family or taking on roommates this summer due to financial pressure.
• 62% of Gen Z and 52% of millennials plan to earn supplemental income this summer, compared to 39% of all respondents.
• 15% of 18- to 24-year-olds planning to earn extra cash this summer are considering OnlyFans or other adult-content platforms as a side hustle.
• 35% of Gen Z say they would work 60 or more hours a week to earn extra income this summer, compared to 25% of millennials.
• 41% of all Americans are cutting back on dining, entertainment, and social plans.

The survey also pushes back on assumptions about how Gen Z spends. Respondents in that age group spend less overall than older generations, and the cutbacks they are making mirror those reported across the full sample. The distinction is not behavior but starting conditions: a labor market that rewards experience, a housing market built on appreciation that predates this generation, and a debt load that many carry before earning their first full-time paycheck.

For Americans looking to strengthen their finances this season, MoneyLion shares a few practical tips to get started:

• Pick the side hustle that fits your life, not the trend. Before signing up for a gig platform, weigh startup costs, scheduling, and realistic earnings after expenses.
• Give summer its own budget. Travel, events, and higher utility bills spike predictably. A separate seasonal budget keeps those costs from eroding rent, debt payments, and savings goals.
• Build a buffer before you need it. Small, automatic transfers add up over a season, and a modest cushion can be the difference between absorbing a surprise expense and borrowing to cover it.
• Cut costs without cutting everything. Auditing recurring charges can free up room without touching the plans that make summer worth it.
• Know your options before you borrow. Comparing rates, fees, and repayment terms upfront helps ensure a short-term bridge doesn't become a long-term setback.

More resources are available at moneylion.com/learn.

Survey Methodology
MoneyLion surveyed 1,000 adults ages 18 and over in May 2026.

About MoneyLion
MoneyLion is a leading financial technology platform and part of Gen (NASDAQ: GEN), a global company dedicated to powering Digital Freedom with a family of trusted consumer brands. MoneyLion powers the next generation of personalized products, content, and marketplace technology through its top-rated consumer finance super app, premier embedded finance platform for enterprise businesses, and world-class media arm. Consumers gain control of their finances with an innovative suite of products to save, borrow, spend, and invest, seamlessly integrating the best offers and content from MoneyLion and its 1,300+ enterprise partners into one unified experience. Its mission is to give everyone the power to make their best financial decisions. Learn more at www.moneylion.com.

Media Contact:
Malea Lamb-Hall
Gen
press@gendigital.com

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SOURCE Gen Digital Inc.

FAQ

What did the MoneyLion (NYSE:GEN) 2026 summer survey reveal about Gen Z finances?

The survey indicates Gen Z reports the sharpest summer money shortfall, with 33% citing a significant gap. According to MoneyLion, Gen Z also shows high interest in side hustles and heavier housing-related adjustments like moving home or adding roommates.

How many Americans say they need more money for summer 2026, according to MoneyLion?

According to MoneyLion, 52% of Americans say they need more money this summer than last year. Within that group, 22% report needing “significantly more,” highlighting broad financial strain across age groups, though impacts vary by generation.

How are Gen Z and millennials using side hustles in summer 2026, per MoneyLion (GEN)?

MoneyLion reports 62% of Gen Z and 52% of millennials plan to earn supplemental income this summer. Overall, 39% of all respondents plan side hustles, with 35% of Gen Z willing to work 60 or more hours weekly.

What does the MoneyLion survey say about housing changes for 18- to 24-year-olds in 2026?

According to MoneyLion, 23% of respondents ages 18 to 24 are moving back with family or taking on roommates. These moves are specifically linked to financial pressure during the summer, reflecting tight budgets and higher fixed costs.

What spending cutbacks are Americans making for summer 2026 in the MoneyLion survey?

The survey finds 41% of Americans are cutting back on dining, entertainment, and social plans. According to MoneyLion, Gen Z’s spending reductions largely mirror other generations, suggesting similar behaviors despite different starting financial conditions.

What side hustles are some young adults considering in the MoneyLion 2026 survey?

According to MoneyLion, 15% of 18- to 24-year-olds planning to earn extra cash are considering OnlyFans or other adult-content platforms. This reflects one of several supplemental income options evaluated amid rising summer expenses.

How was the MoneyLion 2026 summer financial stress survey conducted?

According to MoneyLion, the survey polled 1,000 U.S. adults ages 18 and over in May 2026. The findings capture cross-generational perspectives on summer financial needs, side hustles, housing decisions, and discretionary spending cutbacks.