--- title: Gen Zers Are Optimistic About Their Money in the New Year. Boomers? Not So Much description: More than half of Gen Z and millennials say they are optimistic about their finances in 2023, compared to a tiny fraction of baby boomers. authors: - name: Adam Hardy role: Lead Data Reporter url: https://money.com/author/adam-hardy/ bio: Adam Hardy is a lead data journalist at Money, where he frequently reports on financial barriers that affect low-income Americans. Adam’s work has also appeared in Business Insider, Forbes, Nasdaq, The Penny Hoarder, Yahoo! Finance and more than a dozen local and regional newspapers. education: University of South Florida, BA, Magazine Journalism at_money_since: 2021 articles: 498 covers: - Economy and Politics - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - The Penny Hoarder - Forbes Advisor - Creative Loafing - The New York Times - The Washington Post - Bloomberg - Harvard Law School - The Federal Register - National Consumer Law Center - CBS News - Becker's Hospital Review - Business Insider - Mother Jones - The Week - Fortune - The Philadelphia Inquirer - National Association of Student Financial Aid Administrators (NAFSAA) - Education Advisory Board (EAB) - The Institute for College Access & Success (TICAS) - This Morning with Gordon Deal - Empower - Reddit social: - https://www.x.com/hardyjournalism - https://www.linkedin.com/in/hardyjournalism/ editors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Economy and Politics - Banking - Business - Career Advice - Credit - Credit Cards - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2022-11-23T17:37:29.000Z' modified: '2024-01-10T17:44:39.000Z' section: Economy and Politics tags: - Gen Z - News word_count: 393 canonical: https://money.com/gen-z-optimistic-money-2023/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Illustration of a small piggy bank dreaming of big dollar bills](https://img.money.com/2022/11/News-GenZ-optimistic-about-finances-next-year.jpg?crop=0px%2C146px%2C2880px%2C1620px&quality=85) For most of 2022, an [inflation rate](https://money.com/inflation-report-stocks-soaring/) hovering above 8% took a toll on the wallets of Americans across the board. But a new report shows that Gen Z is especially confident that they’ll be able to turn things around next year. A [survey](https://www.goldmanpfm.com/investment-blog/goldman-sachs-survey-reveals-more-than-half-of-individuals-plan-to-adjust-their-2023-financial-goals-due-to-the-economic-enviroment) released this month by the financial firm Goldman Sachs found that Gen Zers are far more optimistic about their finances in 2023 than any other generation. The firm asked more than 2,400 Americans across age groups if they expect their financial situation will be better or worse next year. Of all respondents, only 45% say they believe their situation will improve in 2023. For Gen Z, though, a whopping 77% believe their finances will improve next year. Most millennials were optimistic, too: 54% say they will be financially better off in 2023, while 45% of Gen X report the same. Boomers are far and away the least optimistic. Only 28% report that they believe their finances will improve in 2023. The survey also found that Gen Zers have big financial goals for 2023. Overall, 55% of respondents say they plan to focus on growing their savings next year. At 58%, Gen Z respondents are the most likely of all generations to report that savings goal. Comparatively, boomers are the least likely to say they're focusing on saving next year. Still, 53% say they plan to increase their nest egg in 2023. The Goldman Sachs report is yet another indicator of Gen Z’s optimism. A recent [report](https://morningconsult.com/2022/11/17/gen-z-parents-financial-future-survey-data/) from the data firm Morning Consult similarly found that Gen Zers are surprisingly optimistic about their financial situation — and not just in 2023. More than 80% of Gen Zers in the survey reported that they will be [*at least* as financially successful as their parents](https://money.com/gen-z-make-more-money-than-parents/) in the long term, with 38% stating that they will be financially better off. Older generations tend to be much less cheery. For example, Pew Research found that 72% of U.S. adults believe that kids these days will actually be [financially worse off than their parents](https://money.com/survey-american-kids-worse-off-financially/?ref=/gen-z-make-more-money-than-parents/). But everyone else’s pessimism isn’t going to stop Gen Z from trying to forge themselves a better financial future. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/gen-z-optimistic-money-2023/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Economy and Politics", "item": "https://money.com/economy-and-politics/" }, { "@type": "ListItem", "position": 3, "name": "Gen Z", "item": "https://money.com/gen-z/" }, { "@type": "ListItem", "position": 4, "name": "Gen Zers Are Optimistic About Their Money in the New Year. Boomers? 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