David Koch said younger generations are being targeted in a ‘toxic’ finance trend. \u00b7 Getty\/Compare the Market <\/p>\n
They say money<\/a> talks… but it turns out, talk is often cheap. Money has been a taboo subject<\/a> for a long time, and while a lot of Australians are getting better at talking about their finances<\/a>, they\u2019re not always honest.<\/p>\n Compare the Market<\/a> research shows almost half of Australians (47 per cent) have fibbed about their finances in the past year. It\u2019s young people who are under pressure to live the perfect \u201cInstagram lifestyle\u201d who have lied the most.<\/p>\n A staggering 75 per cent of Gen Zers admitted to lying, hiding or exaggerating details about their personal finances including what they earn, what they save, and what they spend.<\/p>\n RELATED<\/p>\n In a world where everyone seems to have it all under control, it\u2019s no wonder people feel pressure to keep up with the Jones\u2019s (or the Kardashians for that matter).<\/p>\n Every lie feeds the toxic trend.<\/p>\n I really do feel sorry for young people today<\/a>.<\/p>\n There has always been pressure on people to attain material wealth and status symbols, but these days kids are bombarded with constant reminders on their phones.<\/p>\n When we see our friends on holidays, wearing designer clothes, and sipping cocktails at salubrious parties, it\u2019s natural we want those things too.<\/p>\n Even people who are doing well can feel ashamed about their financial situation when they compare themselves to influencers on social media.<\/p>\n So, for anyone who needs it, here\u2019s a reminder: it\u2019s all smoke and Instagram filters.<\/p>\n And you can be the change you want to see by being a little more honest when you talk finance with friends and family.<\/p>\n Honesty is the best policy \u2013 especially when your decisions impact the household.<\/p>\n The reality is that most people aren\u2019t doing so well.<\/p>\n Further research from Compare the Market revealed that one-in-four Australians admit their savings have been going backwards in the past 12 months (20.3 per cent).<\/p>\n Concerningly, nearly one-in-10 said they had no savings and were in debt (9.3 per cent).<\/p>\n If you know someone who is struggling, approach them with kindness and understanding.<\/p>\n Help is out there \u2014 and it\u2019s much better to be proactive than to let debt and other issues snowball.<\/p>\n With the end of 2025 around the corner, it\u2019s no surprise that almost half of Australians want to improve their financial position before year\u2019s end (44.7 per cent).<\/p>\n Story Continues <\/p>\n But this isn\u2019t a situation where \u201cfake it till you make it\u201d applies.<\/p>\n Focus on making small, realistic changes to build your wealth over time.<\/p>\n The real change happens offline.<\/p>\n Of the 1,013 Australians surveyed in June, this is what they admitted to lying most about.<\/p>\n I lie about how much savings I have – 11.3 per cent<\/p>\n I lie about what I am spending money on – 10 per cent<\/p>\n I lie about how much I spend on takeaway and coffee – 7.6 per cent<\/p>\n I lie about how much I spend on clothes – 6.8 per cent<\/p>\n I lie about how much I earn – 5.2 per cent<\/p>\n Compare the Market commissioned PureProfile to survey a nationally representative sample of 1,013 Australians in June 2025.<\/p>\n Get the latest Yahoo Finance news – follow us on Facebook<\/a>, LinkedIn<\/a> and Instagram<\/a>.<\/p>\n Young Australians are being bombarded with messages about material wealth and status that warp their sense of realistic financial goals. \u00b7 Getty Images <\/p>\n