The financial transparency of young celebrities and TikTokers is curbing the stigma around money and emboldening Gen Z to open up about their money stresses and burdens
Money, politics and sex are no longer banned at the dinner table. Celebrities and TikTokers are emboldening Gen Z to show each other what’s in their wallet—or, rather what’s not.
American influencer and businesswoman, Emma Chamberlain, received wide-spread attention in 2023 when she spoke candidly about her relationship with money in a podcast interview. “I have infrastructure in place with lots of checks and balances that allows me to never check my bank account,” she said. “I have no idea how much money I have. I know what I can do and I know what I can’t do, but I have not looked in years.”
Similarly, Euphoria star Sydney Sweeney made headlines when she shared that despite her success, she fears the financial repercussions of not working. “If I wanted to take a six-month break, I don’t have income to cover that. I don’t have someone supporting me, I don’t have anyone I can turn to, to pay my bills or call for help,” Sweeney told the Hollywood Reporter. “I was worried that, if I don’t work, there is no money and no support for kids I would have.”
Even TikTokers are emboldened to ask the money questions we’re all desperate to know the answers to. You’ve probably seen the dozens of videos circulating of influencers stopping strangers in the street to ask everything from “how much money do you make” and “what does your rent cost” to “how did you become rich”.
Money is always on the mind for Gen Z, and it’s no wonder as to why. A recent Washington Post feature revealed that Gen Z faces even greater financial burdens than millennials. Michele Raneri, head of U.S. research at TransUnion explains: “Gen Z consumers have seen their finances significantly impacted by the pandemic and its aftermath, even more so than the challenges faced by millennials as a result of the global financial crisis.”
Gen Z doesn’t have the luxury of being coy about money. It’s actually in the best interest of their mental health and wallets not to stay silent. According to Intuit’s latest consumer survey, 58% of 18-35-year-olds are integrating financial management into their overall wellness routines. The report confirms that the declining stigma actually encourages “a holistic view of wealth that aligns with personal values and long-term life satisfaction.”
Additionally, the dying stigma is enabling Gen Z to make more informed financial decisions, negotiate better salaries and encourage financial equity. In fact, the only people that seem to profit from keeping money a taboo are employers. Pay secrecy clauses in the UK, while generally unenforceable, diminish employee’s bargaining power and widen the gender pay gap.
But pay secrecy clauses aren’t enough to deter Gen Z. A 2023 survey by Robert Half revealed that 86 percent of Gen Zers are open to discussing their salaries, followed by 59 percent of millennials. Gen Z is fighting money taboos in the best way they know how, by yapping about it.
