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- Gen Z likes to spend it. New research confirms they know they’re being judged by their boomer parents and the internet. But in their eyes, their free-spending ways aren’t their fault. Rather, they say schools are to blame for not setting them up with positive financial habits.
It’s no secret that Gen Z likes to splash the cash. From caviar bumps in clubs, to lavish holidays and Taylor Swift tickets, the generation has been regularly called out for “doom spending” their earnings.
They are aware they’re being judged for it, new research confirms—but they don’t know what to do about it, blaming schools and colleges for setting them up to fail.
Almost two-thirds of Gen Z say they are viewed critically for how they spend their money, new data from Young Enterprise and HSBC shows. The biggest chunk (39%) of the 19-28 year olds surveyed who said they felt judged say their biggest critics are their family. Some 17% feel like they’re being side-eyed by social media.
But in their defence, the youngest cohort of workers insist they are trying to save, they just don’t know how.
Around half blame a lack of financial education in schools as the reason they’ve struggled to build positive financial habits.
A fifth say they weren’t taught how to manage their money at school, with 22% turning to “finfluencers” to get their financial advice instead.
Then there’s record-high living costs paired with a brutal job market: As many as a quarter of the generation don’t think their income is sufficient to meet their daily living expenses—notably higher than 17% for the population as a whole.
Parents are paying their adult Gen Z children $1,800 a month
Even with the cost-of-living crunch, it’s no wonder their parents are looking down on their children’s spending habits. After all, they’re regularly having to pick up the bill for their kids’ lifestyle.
About 50% of parents financially support at least one of their adult children over the age of 18, according to a recent report. In fact, parents spend 2.3 times more on their adult children than on their own retirement accounts each month.
On average, they’re forking out $1,813 a month to pay for the Gen Z children’s groceries, phone bills, health insurance and more.
Separate data echoes that instead of moving to the outskirts, where living costs are significantly cheaper, Gen Zers would rather ask their parents to pay toward their rent, food, and bills so they can live in expensive city downtowns. Half of Gen Zers admit they rely on familial financial support to keep their current lifestyle.
And when it comes to reaching the adulthood milestone of buying their own home? They’re dipping into the bank of mom and dad again for the down payment.
So it’s hardly surprising their eyebrows lift when they see Gen Zers reaching for the credit card to pay a small fortune (including their rent money) to see Taylor Swift on tour.
It perhaps explains why, like their children, parents also want schools and universities to teach the bright young minds of tomorrow how to better manage their money.
It’s too late for most of Gen Z, many of whom have already graduated. But give it 10 years and they’ll be paying their own bills and some. They’re on track to gain $36 trillion and become the richest generation as they climb the ladder and come into their inheritance.
Are you footing the bill for your adult children? Or perhaps, you’re a Gen Zer who regularly dips into the bank of mom and dad. Fortune wants to hear from you. Email: orianna.royle@fortune.come
This story was originally featured on Fortune.com
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https://fortune.com/2025/06/03/gen-z-finances-taylor-swift-judged-boomer-parents-doom-spending-blame-schools-how-to-spend-money/
Orianna Rosa Royle
