Even in today’s ever-shifting economy, checking accounts remain the foundation of most people’s finances. From paying bills to managing everyday spending, many people continue to utilize checking accounts as a significant tool in their financial toolbox.
But how does increasing economic uncertainty among younger people affect their everyday finances? According to a 2025 survey of 1,000 respondents conducted on Pollfish, over half of Americans (55%) aged 54 and younger believe that a recession is on the horizon. While 54% use checking accounts to pay bills, 28% of respondents indicated that they had less than $500 in their bank accounts.
In the face of financial doubt, checking accounts may be able to support better day-to-day money management. Let’s learn more about how Americans are making decisions as they consider a recession on the horizon.
Most Americans use their checking accounts to pay bills—but many have low balances
Even though account balances may vary, checking accounts remain a financial hub for many Americans’ everyday transactions. People still trust checking features like automatic bill pay, low balance alerts and overdraft protection to assist them with their daily finances.
The survey shows that checking accounts are an active part of many Americans’ finances. 54% of all respondents use checking accounts to pay their bills, and 35% use them to make purchases. At the same time, 28% of Americans have less than $500 in their checking account while 24% have over $2,500 in their checking account.
The lower account balances indicated in the survey may demonstrate paycheck-to-paycheck living and a rising cost of living. And yet, as economic uncertainty persists for many respondents, their use of checking accounts may show that checking features remain essential to managing their everyday finances.
Recession anxiety is driving behavior—especially among Gen Z and Millennials
Since checking accounts are still an essential aspect of regular finances for many Americans, they may provide a window into the financial behavior of different age groups during economic uncertainty.
Young people in particular are more concerned about a coming recession than older generations. 63% of Gen Z and 58% of Millennial respondents believe that a recession is around the corner, versus 49% of Gen X respondents.
If younger people are concerned about a recession, they may want to consider setting up automatic transfers from their checking accounts to their savings accounts. Setting aside funds for unforeseen circumstances may allow users to feel a little more comfortable as they prepare for a potential recession. Additionally, budgeting features of checking accounts, like low balance alerts, spending insights or transaction categorization, may allow younger users to better manage their tight finances in the face of a potential emergency.
How gender impacts financial behavior and account balances
In general, women may have lower checking account balances and be more concerned about a potential recession than men.
29% of men reported having $2,500+ in their checking account. At the same time, 34% of women reported having under $500 in their checking account. Additionally, a higher percentage of women (59%) were more concerned about the impact of a recession than men (52%).
Those more concerned with a potential recession might feel more assured by implementing more features offered by their checking accounts. Asking to waive fees or utilizing low minimum balance options may address concerns that some may have about long-term financial security with a lower account balance.
Digital banking tools might help too. Mobile balance alerts or tracking spending with a mobile banking app may be ways to maintain higher balances in the future.
Satisfaction levels vary: Gen Z least satisfied with banking experience
Young people are less satisfied with their banking experience, and the implementation of technology may play a role. Checking account providers who offer easy digital access, clear fee structures and educational tools may be better positioned to meet the needs of younger users.
New technology may set higher expectations for financial institutions. Only 32% of Gen Z respondents reported being very satisfied with their bank, versus 36% of Millennial and 33% of Gen X respondents. As the younger, more tech-savvy generation, Gen Z’s lower satisfaction may come from higher expectations around mobile-first banking and cost transparency.
Young people may remain unsatisfied if financial institutions fail to utilize digital tools to provide better services. Mobile and online banking features may allow younger, tech-savvy users to feel more comfortable managing their balances, allowing them to feel more prepared for the economic uncertainty they foresee taking place in the future.
A snapshot of financial behavior amid economic uncertainty
It’s clear that financial attitudes and priorities vary to a degree based on generational gaps and gender. Gen Z and Millennials report behavior that indicates they are more anxious and proactive in their money management. Meanwhile, Gen X is slightly more financially conservative, focusing on long-term stability.
Some financial institutions may provide checking and savings account tools that support budgeting, automatic transfers to savings accounts, and low-balance alerts, which may help Americans manage their finances in the face of uncertainty.
Disclaimer: Article content is intended for information only and may not reflect the views of the publisher or its employees. Always consult a financial professional before making financial decisions. Publishers or platforms may be compensated for access to third-party websites. Survey findings featured in this article were conducted via the Pollfish platform, with data collected from 1,000 U.S. respondents aged 18-54 in 2025 using stratified sampling to ensure demographic balance. Respondents were screened to ensure all participants currently have a checking account. Methodology details are available upon request.
