They’re young and the most stressed about money, but it’s not all doom and gloom for Gen Zs wanting to get savvy with their finances, as long as they don’t put too much trust in social media.

A report from the Australian Securities and Investment Commission (ASIC) late last year revealed 82 per cent of Australians aged 18 to 26 years old feel financially stressed. However, they’re also twice as likely to want to improve their finances when compared to other generations.

Keen younger investors often use social media as their primary source of information.Credit: Unsplash

Social media is their go-to source for financial information (56 per cent compared to 23 per cent of non-Gen Z), with their top sources including YouTube (33 per cent), TikTok (23 per cent), Instagram (19 per cent), Facebook (15 per cent), and X/Twitter (5 per cent).

However, advice from social media influencers isn’t all it’s cracked up to be. A 2023 survey by........

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