For Americans of all ages, the pandemic changed the conversation around money, so we’d be remiss not to address the elephant in the room — wealth inequality — especially given the frequency Gen Z openly discusses the uneven financial playing field. Populism and class rage had been festering in America long before the first COVID case, especially for Generation Z who accessorized with ​“Eat the Rich” earrings as they made ​“OK Boomer” TikTok videos. But the pandemic truly laid bare the class divisions in real time.

Remote schooling invited Gen Zs into their classmates’ houses, apartments, or lack thereof, making clear who was living stimulus check to stimulus check versus who was able to quarantine in comfort. Some young people were busy playing the stock market while others became the breadwinner for the family given parental health or employment status. For those on the wrong side of the income gap there were real health repercussions that no amount of homegrown GoFundMe campaigns could cover. ​“Lucky” Gen Zs, whose status was relatively unaffected by the pandemic, still experienced the mental health consequences of financial instability, with many reporting survivor’s guilt as well as anxiously as they waited for their own stability to crumble.

All of this is to say that while acknowledging Gen’s financial standing is by no means a monolith, we are seeing trends across the generation in the way they approach money matters.

Overall, Gen Z is emerging from their COVID cocoons with stronger values, but weaker wallets. In fact, they’re the generation most negatively impacted financially by the pandemic both in the short term and foreseeable future. After all, whether they’re launching their careers or just entering college, Gen Z is of the age and life stage where a part-time job waiting tables might be the difference between a savings account and taking on debt.

Overrepresented in service industries before the pandemic, Gen Z accounted for a quarter of American employees working in hospitality and leisure jobs. Employment in these sectors decreased by 41% between February and May 2020 alone; It’s no wonder that during that same period a record 32% of 16- to 19-year-olds were unemployed, more than twice the rate for those 25 and older. Gen Z has been disproportionately likely to apply for government benefits, and been forced to postpone saving as well as paying off debt, according to a study conducted byGeorgetown University’s McDonough School of Business. And if all of this wasn’t enough to make Gen Z nervous about their financial futures, research suggests that kickstarting your career in a recession can result in lower earnings for up to 15 years after graduation — as well as higher divorce rates and even shorter lifespans.

No wonder we’re hearing many Gen Zs express a renewed interest in financial planning, with strategies they plan to continue long past vaccination. Before the pandemic, Generation Z’s top new year’s resolutions were focused on health and happiness according to YPulse. But as they counted down the end of the dumpster fire that was 2020, money rose to the top of Gen Z’s resolutions with ​“earn more money” (76%) and ​“save more money” (60%) taking the top two spots respectively. And while they may be manifesting future success (read The Manifestation Movement for more on that), Gen Z is also acting with financial caution: 70% of Zs report significantly altering their spending habits, according to research by Wunderman Thompson.

Gen Z is not only finding their frugal side, they’re generally more opposed to debt than other generations. Gen Zs were already less likely than Millennials to have debt, according to a pre-pandemic study by Northwestern Mutual. Though this is partially due to their life stage, financial experts believe the desire to be debt-free will remain a defining generational trait. ​“Gen Zers have higher credit scores and are less likely to have difficulty paying off debt since they’re less likely to take it on,” said Brian Meiggs, founder of the personal finance site My Millennial Guide. ​“Gen Z comes out on top with a higher number of them saving from an early age and sticking to a budget.”

This aversion to debt is one of the core reasons that Gen Z is increasingly opting out of traditional four-year colleges, despite statistical evidence that higher degrees result in higher salaries. But, as many Zs argue, the cost of college has doubled since the time most of these studies were conducted. Boomers paid on average $39,780 in today’s dollars for four years of public college, while Millennials averaged $70,000 in tuition costs and Gen Z is currently facing roughly $90,875 annually. And the cost of private college tuition has snowballed: $80,000 in inflation-adjusted dollars for Boomers, $165,000 for Millennials and a staggering $210,000 for Generation Z, according to recent research conducted by GoBankingRates.

With this context, it’s little surprise that Gen Zs are increasingly turning to trade apprenticeships, digital jobs, pieced together Reddit degrees, TikTok tutorials, coding bootcamps, and social commerce as they pave non-conventional (and budget friendly!) paths forward. In fact, 61% of Gen Zs now believe that ​“skill-based education,” such as coding bootcamps, nursing schools and the like, are a smarter choice than traditional four year colleges, according to a recent study conducted by EMC and VICE Media.

Another way that Gen Zs are pursuing their debt-free daydreams is through alternative payment options. Many Zs we’ve spoken with are embracing paying in installments or ​“But Now, Pay Later” programs. Though one could argue that the latter is a form of debt, just not credit card debt, many Gen Zs see it as a safe way to stay within their means. Case in point: participation in ​“BNPL” programs have increased by 201% over the last year.

There are also plenty of Gen Z investors taking a more nontraditional approach to the markets with the help of Reddit, Twitter and TikTok, as well as those investing in a somewhat cheeky (and risky) manner. Gen Zs are not only investing in cryptocurrencies, they’re often the first to embrace more leading-edge ​“alt coins,” aka the most speculative and high-risk cryptos on the market. Forget bitcoin — that’s the ​“dinosaur of crypto,” according to Zs, who have also termed it ​“Boomer coin” for its buzz among older generations of investors. Rather Zs are on the hunt for ​“the next big thing,” whether that be doge, safemoon,shiba inu, or whatever’s newest on the market. Sure, these Gen Zs want to make money, but they’re also using their investments to illustrate how the game is rigged and somewhat silly. Twitter user @lunch_​enjoyer summed this complicated attitude up best when he tweeted, ​“The irs can keep my stimulus check. i don’t care. just give me $100 and I’ll that shit turn into $1,000 on the robinhood app. then turn that to $395 because i tried to win an iPad in a claw machine at a rest stop. you gotta spend money to make money player.”

Zs are also leading a movement towards investing in ​“alternative asset investments” in the form of high-ticket luxury fashion. Unlike faceless stocks or crypto, Zs see fashion and streetwear as having the added benefit of baked-in cultural currency, along with its traditional monetary value. During the pandemic, many Zs did their homework on the resale market, and started picking up luxury pieces to flip for a profit. Recently, a black Gucci Marmont bag, for example, could earn its seller a 76% return on resale site Vestiaire, according to Vogue Business. Meanwhile, sneaker resale site StockX, who’s primary users are under 25 years old, saw first-time sellers flip $800 million worth of product between March 2020 and April 2021. This surge was primarily fueled by young people looking for a lucrative ​“side hustle,” StockX senior economist Jesse Einhorn told Vogue Business.