Do Gen Z and millennials prefer cash gifts according to the Wells Fargo survey?

Yes, the Wells Fargo survey found that 45% of Gen Z and 42% of millennials prefer receiving digital payments or cash over physical gifts.

Why do people feel awkward giving or receiving money as a gift?

Many feel digital cash gifts are impersonal and lack effort, while recipients feel awkward asking for money directly.

What are the benefits of digital cash gifts mentioned in the survey?

Digital cash gifts are favored for their convenience, eliminating shipping and wrapping, and for giving recipients the freedom to choose what they want.

Home / Lifestyle / Younger Gens Prefer Cash Over Gifts: Survey

Younger Gens Prefer Cash Over Gifts: Survey

10 Dec, 2025

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Summary

Gen Z and millennials favor digital payments over physical gifts.
Many gift givers and receivers find sending money impersonal.
Convenience and choice drive preference for cash gifts.

Younger Gens Prefer Cash Over Gifts: Survey

A recent Wells Fargo survey indicates a growing generational divide in holiday gifting preferences, with younger adults expressing a strong preference for monetary gifts over traditional presents.

Forty-five percent of Gen Z and 42% of millennials surveyed indicated they would rather receive digital payments, such as Venmo or Zelle, compared to only 10% of Baby Boomers. This preference stems from a desire for autonomy in choosing what they truly need or want, a sentiment echoed by 65% of recipients who appreciate the freedom digital cash offers.