Gen Z say they’re ‘judged’ over how they spend their money – and family are the harshest critics

By HARVEY DORSET

Updated: 00:01 BST, 2 June 2025

Almost two thirds of Generation Z said they feel they are judged over how they manage their money, new data shows. 

Some 63 per cent of 18 to 28 year olds felt the way they spent money was viewed critically, with the majority (39 per cent) of those saying this came from their family members. 

Another 31 per cent felt judged by their friends, and 17 per cent by people on social media, according to data from Young Enterprise and HSBC.

In comparison, just 33 per cent of the overall population said they felt judged over how they spent their money. 

It is often touted that younger generations splurge their money on avocado toast, flat whites and music festivals.

Some do, of course, but many others are doing their best to build their savings and achieve financial security.

Spending habits: It is often touted that younger generations splurge their money on avocado toast, flat whites and music festivals

While just over 40 per cent of Gen Z are actively saving money, only 42 per cent said they feel financially secure, compared with 54 per cent of the general population.

As many as a quarter, 25 per cent, of the generation don’t think their income is sufficient to meet their daily living expenses, notably higher than 17 per cent for the population as a whole.

According to HSBC’s data, this comes down to an absence of financial education. 

Around half of the overall population think a lack of financial education in schools is the reason so many struggle to build positive financial habits.

Sarah Porretta, chief executive of Young Enterprise, said: ‘The myth that young people are careless with money just doesn’t hold up. Gen Z want to be financially capable, but they don’t feel supported.

‘From chats at the dinner table to scrolling on social media, we need to give young people better tools, better guidance, and a better emotional foundation for managing money.’

Just 13 per cent of young people would turn to their school or college to learn how to manage their money, with even social media influencers a more obvious port of call for 22 per cent of the generation.

In fact, a fifth said they weren’t taught how to manage their money at school, with almost two thirds using their family as their main source of financial advice instead.

Natalie Gregoire-Skeete, head of societal purpose and sustainability at HSBC UK, said: ‘This research highlights just how important it is that we work together as a society – across public and private sectors and with charities, educators, young people and their parents – to break down the stigma around money and ensure every young person has access to clear, relatable, and judgement-free financial education.’

Gregoire-Skeete added: ‘Financial habits are formed at an early age, so to be truly effective, financial education needs to start in primary school, and continue on through the various stages of life. 

‘You are never too young – or too old – to learn new skills and make the most of your money now and in the future.’

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Gen Z say they’re ‘judged’ over how they spend their money – and family are the harshest critics

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