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New findings from U.S. Bank reveal that many Gen Z and Millennials are feeling pressure around their finances, with nearly three-quarters experiencing high or moderate anxiety about their checking and savings balances. Additionally, more than a quarter reported that their checking accounts have dipped below their preferred minimums 12 or more times in the last year, highlighting the growing need for solutions that build confidence and control.

U.S. Bank, in partnership with Morning Consult, surveyed more than 3,000 adults about how they are approaching and feeling about their finances. Research uncovered that nearly half of Gen Z adults (46%) admit they avoid checking their bank account balances and that one in four adults surveyed said they would need $10,000 in their savings account to avoid feeling financial stress.

What’s behind this anxiety? Derik Farrar, head of everyday banking and borrowing at U.S. Bank, said that for younger generations it’s a mix of rising costs, unprecedented economic uncertainty and major life changes hitting all at once over the last five years.

Many under 30 are eager to embark on major financial milestones like going to college, entering the workforce, buying a home or starting a family, but feeling financially unprepared. Survey data backs this up: less than half of adults feel ready for these milestones, and nearly half believe they’ll always have debt. Frequent account dips only add to the pressure, making financial confidence feel harder to achieve for younger generations.

“If there is financial stress in your life, your bank or financial partner may offer more programs and resources than you realize,” Farrar said. “These findings underscore the opportunity we have to help more of our current and future clients feel empowered and in control of their finances.”

To help clients gain better insight and control of their everyday finances, U.S. Bank offers a number of resources and capabilities for clients and non-clients:

• Personal Spending Tracker enables clients to view monthly spending transactions and income habits to get a measure on their financial health.
• Subscription Management allows U.S. Bank credit cardholders to view and cancel unwanted or unexpected subscriptions directly within the U.S. Bank Mobile App.
• Savings Goal Tracker allows U.S. Bank clients to set a financial goal, target completion date and plan to begin funding the goal with options such as portions of each direct deposit, automatic transfers or reoccurring transfers.
• U.S. Bank Goals Coaching provides clients and non-clients with free one-on-one coaching to help identify your goals (financial or not), understand the motivations behind those goals and create a plan to work toward your goals with the help of a dedicated goals coach.

Building financial confidence takes time and the right support, Farrar said. Whether it’s planning for a major milestone or simply managing everyday expenses, the right tools and guidance can make a big difference. Learn more about the solutions U.S. Bank offers designed to help you stay informed and more in control of your financial journey.