A growing trend among younger generations sees side hustles becoming a staple for financial growth. Millennials and Gen Z, with 44% and 48% engaging in side gigs respectively, are now joined by Gen Alpha, whose 69% are also aspiring to start earning independently. Surveyed by Acorns, this generation, despite their young age, demonstrates significant financial awareness, with many saving for education and future needs. Parental influence is notable, as children's attitudes towards finances reflect their parents' feelings about money management.
"It's encouraging to see how mindful Gen Alpha already is about financial security," Acorns CEO Noah Kerner says.
According to the report, 19% are already saving for college, 24% for their first car, 11% for their first home and 6% for their retirement.
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