Young adults today face a far more complex financial world than previous generations – from rising living costs and student loan obligations to digital banking, evolving credit products, and a landscape filled with both opportunities and pitfalls. Yet too many enter adulthood without the tools they need to succeed. Financial education can become a differentiator for banks and credit unions looking to deepen customer relationships and drive real financial outcomes. 

Why Foundational Financial Habits Matter

Research shows that Americans struggle with basic financial preparedness. Nearly three in ten adults have more credit card debt than emergency savings, and over half of Americans have the same or less emergency savings than a year ago. Recent financial education insights also highlight that more than 70% of adults feel stressed about financial decisions, and only a fraction feel confident in their financial knowledge. For young adults just starting their financial journeys, these challenges can have long-term impacts on credit access, financial stability, and wealth building. By helping young adults establish these five financial habits early, banks can help change their financial trajectories 

1. Building a Realistic Budget

Setting a budget is the cornerstone of financial control. It empowers people to understand where their money goes, reduce waste, and set priorities. Surveys find that many young adults either don’t have a formal budget or aren’t confident using one. For example, a recent poll found about one in four Gen Z consumers admit they don’t have a budget at all. Everfi Achieve™ has learning modules like Creating a Budget, Banking Basics, and Healthy Financial Habits that break budgeting down into bite-sized, actionable steps, helping learners build confidence as they go.

2. Building and Maintaining Emergency Savings

A strong emergency fund prevents reliance on high-interest debt when life surprises you and is a key marker of financial resilience. Many young adults enter the workforce without adequate savings. Recent emergency savings data shows that while some Americans are improving, a large share still struggle: nearly three in ten have more credit card debt than emergency savings, and most adults haven’t increased savings significantly year over year. Achieve’s Building My Emergency Savings pathway guides learners step-by-step through setting goals, calculating a savings target, and using tools like visuals and calculators to make progress feel tangible.

3. Understanding and Building Credit

Credit scores influence everything from auto loans to housing, insurance costs, and even job opportunities. Without early education, young adults may misunderstand credit — or fall into common traps like carrying high balances. Achieve’s modules on Credit Scores & Reports, Credit Cards, and Managing Credit and Debt help learners see how credit works, how scores are built, and how to practice good credit habits. 

4. Paying Down and Managing Debt Strategically

Debt, whether from student loans, credit cards, or other sources, can limit young adults’ financial flexibility and long-term financial goals. Too often, young adults equate debt management with avoidance rather than strategy. Structured debt repayment can reduce stress and free up future savings, yet guidance is sparse. Achieve’s pathway, Debt Repayment Strategies, teaches methods like snowball and avalanche repayment techniques, and helps learners build personalized plans. 

5. Adopting Forward-Looking Money Habits

Beyond the basics of budgeting and savings, forward-thinking habits like planning for retirement, investing early, and setting financial goals compound powerfully over time. Long-term planning is often deprioritized when budgets feel tight and short-term needs loom large. For instance, many Gen Zers still focus primarily on short-term savings rather than retirement. With topics spanning Investing Basics, Financing Higher Education, and Planning for Retirement, Achieve equips users with a broader vision for their financial futures and clear steps to move toward them.  

How Financial Institutions Can Leverage Financial Education to Drive Engagement

Banks and credit unions shouldn’t just be product providers, they should be financial guides. By embedding digital education into the customer experience, institutions can support milestone moments — like graduating college, buying a home, or starting a family — in ways that strengthen trust and retention. Everfi Achieve delivers: 

• A mobile-first, interactive learning experience that meets consumers where they are.  

• A library of topics tailored to real financial needs, from checking accounts and budgeting to credit, debt, insurance, and beyond.  

• Personalized learner pathways that help users set goals and take tangible steps toward them.  

This isn’t just content, it’s actionable education that supports behavior change, builds financial capability, and positions your institution as a trusted ally in your customers’ financial lives.

Financial literacy isn’t a nice-to-have — it’s foundational. By helping young adults build habits in budgeting, saving, credit, debt management, and forward planning, financial institutions can unlock deeper customer engagement and better long-term financial health for their communities. To learn more about how your institution can deliver this kind of impact, explore Everfi’s adult consumer financial education solutions here: https://everfi.com/financial-education-adult-consumer/