Gen Z is turning to TikTok and other feeds for money tips far more than older generations, a fresh pair of surveys shows, highlighting the social-media generation's growing sway over personal-finance trends.
What Happened: Nearly 70 percent of respondents aged 18-27 said an online fad had already shaped how they save or invest, compared with 51 percent of millennials and just 27 percent of Gen Xers, according to H&R Block's Spruce banking app, which polled 2,200 U.S. adults in March 2025.
The Spruce poll found one-third of Gen Z now treats social media as a primary classroom for money matters, a share that jumps to 72 percent in a separate Charles Schwab study that lumped websites and apps together. Millennials followed at 57 percent, while only 38 percent of Gen X relied on the internet for guidance.’
TikTok ranked as the most-used source, ahead of Instagram, Facebook and finance podcasts, Spruce said. Yet the Schwab survey shows younger users remain skeptical, just 32 percent of Gen Zers called TikTok "trustworthy" for financial advice, versus 13 percent of Gen X.
Why It Matters: John Thompson, a vice-president at Spruce, urges young savers to mix scrolling with scrutiny. The caution is warranted. Credit Karma found a quarter of Gen Zers have been scammed by bogus online gurus, and 77 percent said the hit hurt their finances.
There are signs the always-online strategy has limits. A recent Intuit Credit Karma poll shows 45% of Gen Z would rather slash retirement savings than give up eating out, and Bankrate finds social feeds can fuel negative feelings about money for three in ten young users. Regulators have also begun scrutinizing "finfluencer" content, with the SEC Investor Advisory Committee issuing recommendations in 2024.
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