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.
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.
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.
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.
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
