![\"Young](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/06\/UK-graduates-Gen-Z-e1777978395429.jpg\")
\t\tGen Z are facing mounting financial pressures\t<\/p>\n\t\t\tMonday 15 June 2026 12:01 am
\n\t\t\t\t\t\u00a0|\u00a0\u00a0Updated:\u00a0<\/p>\n
\t\t\tSunday 14 June 2026 12:09 pm\n\t<\/p>\n
\t\tGen Z are facing mounting financial pressures\t<\/p>\n
Young Brits are failing to place any money into their savings as they continue to face increasing financial pressures.<\/p>\n
Nearly half of Gen Z, those aged between 14 and 29, have not allocated any money to their savings in the past year, according to research from Young Enterprise and HSBC UK, as they find themselves struggling to feel financially secure.<\/p>\n
Young people have found themselves unable to spare funds<\/a> for savings, as they face rising living costs and social pressure as well as a lack of financial education.<\/p>\n Sarah Porretta, chief executive of Young Enterprise, said: \u201cThe idea that young people are reckless with money simply isn\u2019t true.<\/p>\n \u201cThis\u2026 shows a generation under real pressure, they\u00a0have grown\u00a0up through\u00a0first\u00a0the Covid pandemic\u00a0and then\u00a0cost-of-living challenges\u00a0and are\u00a0worried about spending.\u201d<\/p>\n \t\tSpending panic<\/p>\n Meanwhile, two-thirds also expressed worry over spending money, with many admitting being caught in an emotional spending cycle.<\/p>\n Over 40 per cent said their spending is to make them feel better emotionally, while 55 per cent confirmed feeling guilty when spending.<\/p>\n \t\t\t\t\tRead more<\/p>\n \t\t\tGen Z don\u2019t want meaningless work \u2013 but that might be a good thing<\/a><\/p>\n Others admitted that despite spending to feel better, they ultimately regretted<\/a> purchases on a regular basis.<\/p>\n This feeling was particularly visible among teenagers, with 64 per cent of 16 to 19 year olds worrying about spending, with 50 per cent feeling guilt when doing so.<\/p>\n No communication and education concerns<\/p>\n Despite these concerns, many young people are reluctant to seek support, with over one in five saying they would feel embarrassed asking for help with budgeting.<\/p>\n The problems facing young Brits also point to wider concerns surrounding financial education, with industry figures increasingly raising the alarm over the lack of monetary teaching that is given at school.<\/p>\n Nearly two-thirds of people across the UK feel the financial education<\/a> they received during education failed to prepare them for managing money in later life.<\/p>\n Natalie Gregoire-Skeete, Head of Societal Purpose and Sustainability at HSBC UK, said: \u201cWhen young people feel unable to save and anxious about spending, it\u2019s a clear sign we need to do more collectively \u2013 across schools, families, charities and businesses \u2013 to help build the skills and confidence they need for the future.\u201d<\/p>\n \t\t\t\t\tRead more<\/p>\n