A survey from HSBC UK and the national education charity, Young Enterprise, reveals that Gen Z feel judged about how they manage money, leading some to turn to unreliable sources for financial advice
New research suggests that Gen Z feel judged by parents, friends and social media about how they handle their money. Despite a strong digital fluency and desire for greater financial literacy, the younger generation is dealing with low confidence and misinformation when it comes to personal finances.
Survey findings from HSBC UK and national education charity Young Enterprise reveals that while half of Gen Z respondents are actively saving, 67% say they feel judged or embarrassed about how they handle their money – predominantly by their family. That compares to 33% of the wider UK population, exposing a generational “shame gap” between young and older generations. .
The survey also highlights that Gen Z does not feel particularly supported in their attempts to become more financially literate, especially by their schools. Only 13% of Gen Z respondents said they would turn to their school or university as a top source for money management education. This lack of formal financial education is leading Gen Z to seek less reliable sources of financial advice.
Nearly a quarter of Gen Z respondents say they have turned to social media influencers for financial advice in the last year – almost double the UK average. According to the study this trend is not indicative of financial carelessness, but rather “reveals the consequences of growing up without reliable financial education”.
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Sarah Porretta, CEO of Young Enterprise, said: “The myth that young people are careless with money just doesn’t hold up. Gen Z wants to be financially capable, but they don’t feel supported…Teachers are doing their best in a crowded curriculum, but they need more support too – we can’t expect them to tackle this challenge alone.”
Research indicates that parents are paying the price for the lack of formal financial education. According to research commissioned by Moneyfarm, 84% of British parents said that their child would have access to money that they saved for them when they turned 18 – with the average amount being £23,000.
While social media is not the most reliable source of financial information, it is helping younger generations fight the stigma about discussing their personal finances. The dying stigma is also enabling Gen Z to make more informed financial decisions, negotiate better salaries and encourage financial equity.
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Additionally, a 2025 consumer survey from Intuit revealed 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.”
But as the research highlights, it is up to more than parents and teens to prioritise financial education. This past March, Conservative MP Peter Bedford brought forward a motion in Parliament to introduce a bill to make provisions around financial education in primary schools and tertiary education.
Speaking in Parliament on the issue, Bedford said: “Schools should prepare young people for the adult world. Yet for all the focus on balancing an equation, there is no attention given to balancing one’s bank account…we are sending our young people out into the world and putting them into the game of life without even teaching them the rules first.”