I tried to stop being anxious about money. It completely backfired

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Intelligence Network • Data Science • AI Research • World News
Published: 2026-10-07T08:24:45.292Z • Permanent link

Lately, financial news has been flooded with reports of Gen Z individuals struggling with anxiety about money, despite their efforts to invest and save early. This phenomenon has caught the attention of financial experts, policymakers, and researchers worldwide. At the center of this story is the role of social media and economic challenges in shaping the financial mindset of younger generations.

Recently, a survey conducted by the Federal Reserve Bank of New York found that nearly 60% of Gen Z respondents (born between 1997 and 2012) reported feeling anxious about money, compared to 45% of Millennials (born between 1981 and 1996) and 30% of Baby Boomers (born between 1946 and 1964). This trend is not limited to the United States; a similar survey conducted by the European Central Bank found that nearly 50% of Gen Z respondents across the European Union reported feeling anxious about money.

Internationally, the rise of social media has created a culture of comparison and competition, where individuals are constantly exposed to images of wealth and success on platforms like Instagram and TikTok. This can lead to feelings of inadequacy and anxiety about one's own financial situation. Moreover, the increasing uncertainty surrounding global economic trends, such as the ongoing COVID-19 pandemic and the rising cost of living, has created a sense of unease among younger generations.

Financial anxiety among Gen Z individuals has significant implications for the financial services industry, policymakers, and researchers. Companies like Fidelity Investments and Charles Schwab have reported a surge in demand for financial planning services and investment products among younger generations. Moreover, the anxiety surrounding money can lead to a range of negative consequences, including delayed financial planning, poor investment decisions, and increased debt.

Research institutions like the National Bureau of Economic Research have found that financial anxiety can have a significant impact on mental health, with individuals experiencing increased stress and anxiety when confronted with financial uncertainty. Policymakers, such as the US Federal Reserve, have also taken notice of this trend, with some arguing that financial education and literacy programs can play a critical role in addressing financial anxiety among younger generations.

The rise of financial anxiety among Gen Z individuals is part of a broader trend of increasing economic uncertainty and instability. The COVID-19 pandemic has exposed weaknesses in the global economy, while the ongoing shift towards a digital economy has created new challenges for workers and businesses alike. In the United States, the ongoing debate over tax reform and the role of government in regulating the financial sector has created a sense of unease among policymakers and the public.