7 minutes
For decades, personal finance followed a predictable script: open a bank account, get a credit card, contribute to retirement slowly, and consult a financial advisor later in life, once you have more money. But Gen Z — those born roughly between 1997 and 2012 — are rewriting that script entirely.
This generation is entering adulthood during a time of economic uncertainty, technological transformation, and unprecedented access to financial information. They are investing earlier, learning more about money online, and reshaping how financial services must operate in order to stay relevant.
For financial education companies like us Skyward Financial, this shift represents both a challenge and an opportunity: a chance to help a generation build healthier financial habits while empowering them with knowledge they were rarely taught in school.
A Generation That Thinks About Money Earlier
Unlike previous generations, Gen Z is thinking about money and investing much earlier in life. Many members of this generation grew up watching the 2008 financial crisis, the rapid rise of technology companies, and the economic instability brought on by the COVID-19 pandemic. As a result, financial security is often top-of-mind.
Recent surveys show that 68% of Gen Z Canadians report investing consistently each year, making them one of the most financially engaged generations at a young age.
Even more interesting is that many Gen Z workers are saving aggressively relative to their income. Research has shown that this generation saves around 11% of each paycheck on average, with some young people saving over $10,000 annually.
This early engagement with investing signals something important: Gen Z does not see wealth-building as something that starts in your 40s or 50s. Instead, they see it as something that begins as soon as you earn your first paycheck.
However, early interest does not always mean strong financial understanding.
The Financial Literacy Gap
Despite their enthusiasm around money, Gen Z often enters adulthood without the foundational financial education needed to make confident decisions. In fact, studies have shown that Gen Z scores the lowest financial literacy levels of any generation, with only about 38% answering financial literacy questions correctly.
This gap exists partly because traditional education systems rarely prioritize financial education. According to Canadian research, 84% of people say financial education in school would have helped them manage money with less stress later in life.
Without structured education, young adults often learn about money through trial and error — or through social media.
The Rise of Social Media Finance
Gen Z is the first generation to grow up entirely in the digital age. As a result, their financial learning environment looks very different from that of previous generations. Instead of relying primarily on banks, advisors, or textbooks, many Gen Z individuals turn to platforms like TikTok, YouTube, and Instagram for financial guidance. Research shows that young Canadians are twice as likely as older generations to seek financial advice on social media, with 18% actively using these platforms as a learning source.
While this accessibility has helped normalize conversations around money, it has also introduced a new problem: misinformation. Online “finfluencers” often present simplified strategies, unrealistic investment returns, or risky financial advice. Without proper financial literacy, young investors may struggle to distinguish credible guidance from viral content.
This is where proper financial education becomes essential.
Emotional and Value-Driven Investing
Another defining trait of Gen Z investors is that they approach money differently from previous generations on a psychological level. Research suggests that about 75% of Gen Z say their personality influences how they invest, meaning emotional factors play a large role in financial decisions.
This generation also tends to prioritize values when making financial choices. Environmental sustainability, ethical business practices, and social impact often influence where Gen Z chooses to spend or invest. At the same time, confidence remains a barrier. Only around 55% of young adults say they feel confident investing, even though many are actively participating in markets. This combination, interest without confidence, creates a perfect environment for financial education to make a meaningful impact.
The Confidence Gap in Investing
Another surprising statistic illustrates the challenge young investors face. Many Canadians hold tax-advantaged accounts like TFSAs, yet 41% of Gen Z and Millennials do not actually invest the money inside them.
The reasons are telling:
In other words, the barrier is not access, it’s understanding. Without clear guidance, even the best financial tools can remain unused. That’s where financial education courses with Skyward make all of the difference.
Why Financial Education Is the Key
Financial literacy does more than teach people how to budget or invest. It shapes how individuals approach their entire financial life.
Research consistently shows that financial education improves:
In short, education empowers individuals to make informed decisions instead of reactive ones. For Gen Z, a generation navigating rising living costs, student debt, and complex digital financial tools, financial literacy is not optional. It is foundational.
How Skyward Financial Supports Gen Z
This is where Skyward Financial plays an important role.
Skyward was built with the understanding that traditional financial advice often feels inaccessible to younger audiences. Many young adults assume financial advising is only for wealthy individuals or people later in life.
Skyward flips that idea entirely.
Instead of waiting until someone has accumulated wealth, Skyward focuses on education-first financial empowerment, helping young people build strong financial foundations from the start.
Through approachable resources, accessible education sessions, and modern financial content, Skyward helps young adults understand topics like:
The goal is simple: to make financial knowledge feel approachable, practical, and relevant.
Meeting Gen Z Where They Are
One of the biggest lessons from Gen Z’s financial behavior is that education must evolve alongside the generation it serves.
Gen Z expects learning to be:
Skyward embraces this by communicating financial concepts in ways that feel modern and accessible rather than intimidating or overly technical.
Instead of talking at young people about money, the goal is to help them develop confidence in navigating their own financial journeys.
The Future of Financial Education
As Gen Z continues entering the workforce and building wealth, the importance of financial literacy will only grow. Canada is currently experiencing one of the largest wealth transfers in history, with over $1.2 trillion expected to pass between generations over the next decade.
For younger Canadians to manage and grow that wealth responsibly, financial education will be essential. The next generation of financial success will not be defined simply by how much people earn — but by how well they understand and manage their money.
Generation Z is more financially curious than any generation before it. They are investing earlier, asking more questions about money, and actively searching for guidance. But curiosity alone is not enough; without accessible financial education, many young people may struggle to navigate complex financial decisions, avoid misinformation, or build long-term wealth.
This is why organizations like us at Skyward Financial matter. By providing approachable, practical financial education, Skyward helps Gen Z move from confusion to confidence — giving them the knowledge and tools needed to build a stronger financial future.
Book your free, virtual, 1 on 1 financial education call at skywardfinancial.org
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