You’re financially savvy, but struggle to save

04 Aug 2022 2 min read

Turn your savviness into savings

It’s a case of knowing what you should be doing, but maybe finding it hard to put theory into practice. Gen Z are well aware of the importance of finances, even if some of you (1 in 5!) find dealing with your finances as much fun as cleaning the house. Yes, you told us you’d prefer to spend time on social media, exercise, watch a movie, call a friend or clean your house than getting to your finances.

Saving isn’t always easy, but interestingly, 72.9% of the Gen Zs we talked to said COVID-19 made them save more (and third-party data suggests you’re better at saving than Baby Boomers!).

As you’re getting older, graduating and moving into full-time work, you told us that you’re increasingly looking for ways to make your money go further — through either saving or investing. That said, many Gen Zs admit to struggling to make daily ends meet or to maintain any savings beyond daily spending.

Plus, we know that younger people have been particularly hard hit by the economic impact of the pandemic. That’s not good news, but the fact that you’re acting on it is.

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