The latest annual survey from Best Egg highlights trends in money knowledge as well as in how confident consumers feel in their finances.
About the Survey Results:
Recently, Best Egg released the results of its 2026 Financial Confidence Report. The survey was conducted by Ask Your Target Market and included participation from 3,000 Americans of various generational groups.
Starting with financial literacy, 76% of overall respondents said they understand the factors that determine a credit score. This percentage was slightly higher among Baby Boomers, while Gen Zers were below the average at 68%.
Elsewhere, 64% of those surveyed stated that they felt confident in discerning good financial advice from bad. Not surprisingly, though, younger generations were far more likely to seek advice from newer sources. For example, 34% of combined Gen Zers and Millennials said they trusted online sources for financial advice compared to just 13% of Gen Xers and Boomers.
One interesting discovery in the survey is that more Americans are embracing no-spend challenges and other alternative budgeting methods. Again, these were far more popular with the younger generations (55%) versus the older ones (35%).
Turning to the confidence section, only 43% of respondents reported feeling financially secure when comparing themselves to their peers. And while two-thirds of Gen Xers and Boomers said they felt in control of their day-to-day finances, that figure dropped to 55% for Gen Zers and Millennials. Meanwhile, three-quarters of overall respondents said that rising costs have made it more difficult for them to save.
Also notable is that just 27% of those surveyed say that they’ve worked with a financial coach. That leaves 73% who have managed their finances completely on their own.
What They’re Saying:
Commenting on the survey’s findings, Best Egg’s CEO Paul Ricci noted, “Behind every statistic in this report is a person lying awake wondering if they’re making the right calls with their money and that’s an uncomfortable place to be.”
Meanwhile, the company’s Director of Consumer Insights Julian Makowski remarked, “What people know about money and how they feel about their own finances are not always the same. Most consumers understand the factors affecting their credit, and many feel confident identifying sound financial advice. Yet fewer than half feel financially secure compared with their peers.”
Makowski added, “That disconnect shows that financial well-being cannot be measured by knowledge alone. It must also account for whether people feel secure and in control of their financial lives.”
My Thoughts:
Honestly, even if the percentage of Gen Zers who understand how their credit works is a bit lower than older generations, 68% strikes me as an impressively high number. I can’t help but think that this wouldn’t have been the case even a decade ago, before social media and other outlets started to share financial insights in unique ways. Yes, some of the advice you find on these apps can be absolute bunk — but there are a lot of trustworthy financial creators as well.
So how can consumers turn that knowledge into confidence? I think it all comes down to practice. As Americans continue with good money habits, they’ll start to see positive results that will fuel them toward fulfilling other financial goals. In turn, I hope to see these figures on the rise in next year’s survey.
