Nearly half of Gen Z are saving – but 63% still feel judged about how they manage money
New figures from HSBC UK and Young Enterprise reveal a financial confidence crisis among young people:
- Only 13% of Gen Z would turn to their school or college as one of the top sources to learn how to manage their money
- Nearly a quarter of Gen Z (23%) don’t feel they are making the most of their money, with 17% not feeling they have made improvements in how they handle their finances over the past 12 months
- 49% of the population feel that the biggest obstacle preventing young people in the UK from developing sound financial habits is the lack of financial education at school / college
- 25% of Gen Z feel that their income is not enough to cover living costs or save for the future, nearly a fifth of the UK population (17%) agree
- Research released as part of My Money Week 2025 (w/c 9th June), an awareness week aimed at embedding money management into the classroom and the home
Gen Z may be digitally fluent and financially motivated – but new data shows they are navigating a difficult landscape of judgement, low confidence and misinformation when it comes to money. Research released today by national education charity Young Enterprise and HSBC UK to mark My Money Week 2025 (w/c 9th June) paints a striking picture of a generation eager to improve their finances, while struggling to access trusted support.
Nearly two thirds (63%) of Gen Z respondents say they’ve “felt judged” or embarrassed 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.
Yet while money feels deeply personal, structured education on the topic is often missing. 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.”
My Money Week 2025 calls on schools, families and policymakers to recognise that financial education isn’t just about numbers -- it’s about confidence, trust, and early intervention. Gen Z are motivated to build strong money habits, but without accessible, reliable support from the systems around them, we are missing an opportunity to set them up for success.
For My Money Week information and resources, visit here.
Media Contacts:
- Izzy Brantingham, Account Manager, MWW (Young Enterprise)
Youngenterprise@mww.com | 07581 575 137 - Aurora Bonin, HSBC UK
aurora.f.bonin@hsbc.com | 07438 850 833
Notes to Editors:
- Research conducted for HSBC UK and Young Enterprise by Sapio Research, surveying 2,800 UK adults aged 16+. This included a sub-sample of 1,000 young people aged 16-24, which are referred to as Gen Z throughout the release as outlined by Beresford Research. Fieldwork was carried out between 7-21 May 2025.
- HSBC UK has worked in partnership with Young Enterprise (YE) for over four decades, and is the primary supporter of their award-winning financial education ‘Money Heroes’ programme. Now Young Enterprise’s largest primary financial education programme, it has helped almost 700,000 people to learn vital money management skills since its launch in 2020.
- HSBC UK supports financial capability through their programmes delivered for children and young people aged 3 to 25 years. This includes direct delivery of financial education programmes in schools, as well as in partnership with organisations like Young Enterprise (Money Heroes), Scouts, Girlguiding, Duke of Edinburgh and the King’s Trust. Together, we’re helping young people ‘get’ money. In 2024, these programmes reached more than 700,000 children young people across the UK.
About Young Enterprise
Young Enterprise is a national financial and enterprise education charity. We are passionate about developing the financial capabilities and enterprising mindset of the next generation, and believe that increased access to meaningful opportunities, combined with ongoing support, can change young people’s futures. Young Enterprise works directly with young people, teachers, and volunteers, with the support of corporate partners, to build a successful and sustainable future for all young people.
As a proud member of JA Worldwide – recently nominated for the 2025 Nobel Peace Prize – we are part of a global network recognised for its life-changing impact on young people through education and enterprise. This international connection strengthens our ability to equip UK students with the vital skills needed to earn and look after their money. Any investment to improve young people’s financial literacy not only pays huge dividends to their lives, but their families, their communities and to wider society.
About HSBC UK
HSBC UK serves over 15 million active customers across the UK, supported by 23,900 colleagues. HSBC UK offers a complete range of retail banking and wealth management to personal and private banking customers, as well as commercial banking for small to medium businesses and large corporates. HSBC UK is a ring-fenced bank and wholly-owned subsidiary of HSBC Holdings plc.
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 58 countries and territories. With assets of US$3,054bn at 31 March 2025, HSBC is one of the world’s largest banking and financial services organisations.