‘Tell me lies, tell me sweet little lies’: Gen Z most secretive when it comes to money

Who’s the most secretive generation when it comes to money? According to a new survey, it’s Gen Z, those aged 18 – 28. 

A study of 2,000 UK couples who have been together for at least a year, carried out by Starling Bank, found that 45% of Gen Z have kept financial secrets from a partner, compared with 37% across all age groups.

The most common money secrets being kept under wraps are:

• hidden bank accounts
• secret purchases
• misrepresenting income

Interestingly, this secrecy exists alongside strong financial awareness.

The research also shows that Gen Z are among the most financially literate generations and are more likely to prioritise financial compatibility in relationships.

Even so, money remains a major source of tension.

Around nine in 10 Gen Z (91%) said they’ve argued with their partner about finances, compared with 76% across all age groups.

Common flashpoints include:

• not saving enough
• spending too much on non-essentials
• having different financial priorities

 ‘Quarter-life crisis'

And while many Gen Z’ers are savvy with money, not everyone is thriving. Earlier this year, the so-called ‘quarter-life crisis’ made headlines, highlighting how many young people are struggling with the rising cost of living.

With that in mind, we came up with some practical ways to help Gen Z not just survive financially, but thrive.

From setting savings challenges to trying no-spend days, check out our money management tips for a ‘quarter-life crisis'.