Infographic summary
53% of Gen Z in the US states their interest in financial planning and/or investing has increased in the last two years. Rather than following expensive business courses, they self-educate online. 34% of Gen Z does this by following influencers on social media, aka ‘fin-fluencers’. Next to saving (62%), Gen Z is eager to invest (72%), with stocks (29%) and education funds (22%) taking up the biggest share in their investment portfolio. Yet this generation goes beyond traditional investment products and sees a lot of potential in art (19%) and cryptocurrencies (18%). 13% also indicates investing in expensive luxury fashion and exclusive streetwear. Growing up against the backdrop of the financial recession, this generation is debt-averse, with 43% avoiding buying on credit.
So, what does this mean for brands? Gen Z expects accessible and actionable financial advice, supporting them with building financial resilience.