A report reveals that Gen Zs in Australia are financially stressed but are more likely to want to improve their finances compared to other generations. They heavily rely on social media for financial information, with YouTube and TikTok being their top sources. However, the report warns against trusting advice from social media influencers.
They’re young and the most stressed about money, but it’s not all doom and gloom for Gen Z s wanting to get savvy with their finances, as long as they don’t put too much trust in social media . A report from the Australian Securities and Investment Commission (ASIC) late last year revealed 82 per cent of Australians aged 18 to 26 years old feel financially stressed. However, they’re also twice as likely to want to improve their finances when compared to other generations.
Unsplash Social media is their go-to source for financial information (56 per cent compared to 23 per cent of non-Gen Z), with their top sources including YouTube (33 per cent), TikTok (23 per cent), Instagram (19 per cent), Facebook (15 per cent), and X/Twitter (5 per cent). However, advice from social media influencers isn’t all it’s cracked up to b
Gen Z Financial Stress Social Media Financial Advice Youtube Tiktok
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