The American Dream? 7 in 10 Millennials and Gen Zers Say It’s Not For Them

They're also feeling uneasy about their financial literacy and education.

Young Americans feel like they’re in survival mode, and the financial system is stacked against them. In a new survey by Beyond Finance, 70% of respondents said building wealth is out of reach and that survival spending is the new norm.

What’s clear in the survey of more than 2,000 respondents is that a growing share of Gen Z and Millennials feel the financial system is working against them, not for them.

In fact, only 32% said the “American Dream” feels realistic today. More than half feel their generation was set up for financial failure, and 71% said wealth-building opportunities are becoming less achievable. Nearly two-thirds said they keep a side hustle to make ends meet, and nearly a third use “Buy Now, Pay Later” options for essentials like groceries and utilities.

“We’re asking these younger generations to follow financial rules that no longer fully reflect today’s reality,” said John Hope Bryant, founder, chairman, and CEO of Operation HOPE. “Budgeting alone won’t close the gap. This is a moment to reimagine financial education, to equip people not just to survive, but to thrive, build wealth, and claim their rightful place in today’s economy.”

A Call For New Financial Rules For The Younger Generations To Play By

Respondents are not only feeling uneasy about their finances, but about their financial literacy and education. Many respondents question whether traditional financial advice and education are aligned with the realities they face today.

Fewer than a third of people feel fully prepared by their education to make financial decisions; almost half say older generations don’t understand their financial challenges; and 80% support mandatory financial literacy education. Yet, despite their grim feelings, Gen Z and Millennials remain engaged. Many are adapting their expectations and redefining financial success in the current climate.

“The reality is, financial conditions have changed faster than the rules,” said Dr. Erika Rasure, chief financial wellness advisor at Beyond Finance. “Redefining hope isn’t about asking people to try harder. It’s about helping them create values and financial habits that reflect their reality, and rebuilding confidence through consistent, sustainable progress.”

Dr. Rasure suggests the following from her Beyond Finance client coaching sessions:

Consistency is Key: Focus on small, repeatable actions, such as contributing to an emergency fund, that build evidence of progress over time.
Stability Is Success: In today’s environment, maintaining financial stability is a meaningful achievement. Paying bills, supporting your household, and keeping your life functioning are not minimums. They are wins.
Redefine the Dream: Traditional markers of success may no longer feel attainable, and that’s not your failure. It’s a signal to redefine success on your own terms. Focus on goals that are realistic and meaningful today, whether that’s reducing debt, increasing flexibility, or building consistency.
Clarity Before Action: Instead of asking, “How can I do more?” start with “Where can I create breathing room?” and “What support can I access?” Hope grows when people see multiple paths forward, not just one rigid path.
Self-Regulation Before Resolution: Financial stress can cloud decision-making. Before solving problems, take time to reset. Creating space for clarity helps shift decisions from reactive to intentional and leads to better long-term outcomes.

Read the full report here.