Every generation faces its own financial hurdles, but today’s landscape presents uniquely complex challenges—especially for Gen Z and Gen X. Saddled with rising living costs, stagnant wages, and the lingering weight of student debt, these younger generations often find themselves playing financial catch-up. Despite being some of the most educated cohorts in history.
Gen Z, came of age during a global pandemic and an era of inflation, all while navigating gig economies, uncertain job markets, and skyrocketing rents. However, new data from MoneyPlus challenges that narrative and suggests that Gen X – those between 45 – 60 are the most financially strained.
Expectations
Beyond economics, societal expectations continue to influence how each generation views and manages money. Social media culture, for example, glamorizes lifestyles far beyond many people’s budgets, pressuring users—particularly younger ones—to spend for the sake of appearance. From designer fashion hauls to luxury vacations. The curated feeds often equate success with spending, regardless of actual financial health.
Older generations like Boomers, grew up with more stable job markets and clearer financial milestones: buy a house, save for retirement, live comfortably. Their financial culture was shaped by linear progression and long-term employment. Today’s young adults are more likely to juggle multiple income streams. For example, freelance gigs, and financial insecurity. All while being told to invest early, build a personal brand, and somehow “make it” by 30. Gen X, however, are among the largest group of people now having to give up holidays due to financial reasons.
Financial Struggles
This disconnect in financial experience can lead to misunderstanding across age groups. For instance, older generations may view younger ones as careless with money, while Millennials and Gen Z may feel their struggles are dismissed as self-inflicted or temporary. Retirement is a point of financial insecurity for almost 74% of Gen X’ers. In contrast younger generations appear less concerned about how they will find retirement.
Debt is hitting every generation hard showing that almost half of all respondents to the MoneyPlus survey, are dealing with some form of financial pressure. To deal with debt they are spreading out payments. Borrowing through the likes of Klarna and Clearpay etc. This just goes to show that it is not just a generational gap in finances. It is about expectation and getting the right advice no matter what age you are.
After all, navigating money in today’s world isn’t just about budgeting. It is about reconciling the financial realities we face with the expectations we’ve inherited.
