Two thirds Gen Z feel judged about their money management

New research from HSBC and Young Enterprise has found that Gen Z feels judged about their financial management, with 67% expressing embarrassment, primarily from family.

Nearly two thirds (63%) of Gen Z respondents say they’ve ‘felt judged’ about how they manage their money – whether by family (39%), friends (31%), or by social media (17%). That compares to 33% of the wider UK population, exposing a generational “shame gap” between young and older generations.

Only 13% of Gen Z would turn to their school or college as one of the top sources to learn how to manage money. Meanwhile, nearly half (49%) of the population identify the lack of financial education in schools as the biggest barrier to building healthy money habits. Instead, many are turning elsewhere to risky, untrustworthy sources. Nearly one in four (22%) Gen Z respondents say they have turned to social media influencers for financial advice in the last 12 months.

This behaviour doesn’t reflect carelessness; it reveals the consequences of growing up without reliable financial education. In the absence of structured support, young people are relying on informal, sometimes unreliable sources – leading to higher financial risk, lower confidence, and habits that can hinder long-term security.

Sarah Porretta, CEO 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. 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.”

Despite the noise, there are signs of determination. Nearly half of Gen Z (42%) say they are actively saving, and 72% say they could turn to friends or family for financial help if needed – well above the 51% of the general population who say the same. But with just 42% of Gen Z feeling financially secure – compared to 54% of the general population – the cracks are clear.

Financial pressure is also being felt in how young people learn. A fifth of Gen Z (21%) say they were not taught how to manage money at school or college, and only 13% referenced a teacher or school as a trusted source of financial knowledge. In the absence of structured education, 61% say they turn to family for financial advice – highlighting not just a reliance on informal sources, but a lack of accessible, trustworthy alternatives in the system.

Natalie Gregoire-Skeete, Head of Societal Purpose and Sustainability at HSBC UK, said: “Financial skills are life skills, and this latest 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.

“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.”