Every generation sees money a little differently, and Gen Z is no exception.
While boomers grew up in a world where certain financial “truths” seemed unshakeable, today’s young adults are navigating a completely different economic landscape, and they’re not shy about questioning outdated ideas. Between student debt, skyrocketing rent, and a digital-first world, it’s no wonder Gen Z often finds older generations’ money advice confusing at best and laughable at worst. These are just some of the boomer beliefs about money that younger people tend to think are just plain ridiculous.
1. “You need to own a house to be successful.”
For boomers, owning a home was a clear sign that you’d made it in life. It was an achievable goal and a relatively safe investment, so it made sense as a financial priority. But for Gen Z, skyrocketing house prices and stagnant wages make that dream feel more like a fantasy than a milestone.
Many young adults don’t see homeownership as the ultimate life achievement anymore. Instead, they prioritise flexibility, mental health, and not being tied to massive debt. Renting doesn’t equal failure; it just fits better with the reality they’re living in.
2. “Just work hard and you’ll get ahead.”
Boomers were raised on the belief that hard work always pays off—and for a while, it often did. But Gen Z sees that working two or three jobs isn’t always enough to cover basic expenses, let alone build wealth. The equation has changed.
They know that systemic issues, rising costs of living, and wage gaps mean effort doesn’t always lead to stability. They’re not lazy; they’re just tired of being told that hustle alone guarantees success when the economy tells a different story.
3. “Stop buying coffee and you’ll be rich.”
Ah yes, the infamous latte-shaming. Boomers love to point out how skipping small daily luxuries like takeaway coffee could lead to long-term wealth. But Gen Z isn’t convinced that their £3 flat white is what’s keeping them from buying a house.
They’re more interested in talking about structural financial problems—like rent hikes, lack of savings options, and inflation—than guilt-tripping themselves over harmless pleasures. To them, enjoying a coffee is self-care, not financial sabotage.
4. “Cash is king.”
Many boomers still feel uneasy about using cards or apps for payments, and often see cash as a symbol of control and security. However, Gen Z lives in a nearly cashless world, where most purchases happen with a tap of a phone or even a watch.
Digital banking, budgeting apps, and cryptocurrency are more their speed. The idea of keeping a stash of physical cash “just in case” feels outdated to a generation raised on online payments and real-time transfers.
5. “You have to stay at a job for years to prove loyalty.”
Sticking with one company for decades used to mean job security, promotions, and a healthy pension. But that loyalty doesn’t always pay off anymore. Gen Z knows that climbing the ladder often means switching jobs and seeking better opportunities elsewhere.
They’re not job-hoppers for the sake of it; they’re chasing fair pay, flexibility, and growth. The old-school idea of staying put, no matter what feels more like a trap than a strategy in today’s economy.
6. “Never talk about money—it’s rude.”
For boomers, talking about salaries, debt, or financial struggles was considered taboo. But Gen Z is breaking that silence in a big way. They’re openly discussing income, budgeting tips, and even side hustle earnings with friends and online communities.
To them, transparency around money isn’t rude, it’s empowering. They believe that sharing financial information can help level the playing field and protect each other from unfair pay or shady deals.
7. “University is always worth the cost.”
For a lot of boomers, a university degree meant better job prospects and a solid return on investment. But with tuition fees and student debt rising, Gen Z is questioning whether the traditional path still makes financial sense.
They’re exploring alternatives like trade schools, online courses, and entrepreneurship—not because they’re anti-education, but because they want practical, affordable skills. The idea that a degree guarantees success doesn’t hold up like it used to.
8. “You should save 10% of your income, no matter what.”
Saving a portion of your income is great advice in theory, but Gen Z knows that when rent, bills, and groceries eat up most of your pay cheque, there’s often not much left to tuck away. The old “just save more” advice feels tone-deaf in that context.
They’re more interested in realistic money habits, such as micro-saving, building emergency funds in small steps, and creating flexible budgets that reflect actual costs of living. They’re not bad with money; they’re just working with tighter margins.
9. “Only poor people use credit cards.”
Some boomers view credit cards as a sign of financial recklessness, best avoided unless absolutely necessary. But for young people, credit is a tool—one that, when used wisely, helps build financial independence and access better borrowing options down the line.
They’re using rewards cards, building credit scores, and understanding interest rates earlier than many boomers ever did. The shame around borrowing money doesn’t track with their more strategic, informed approach to credit.
10. “You don’t need therapy, just work through it.”
While not strictly financial, this mindset affects how money gets spent—and saved. Boomers often saw therapy as unnecessary or indulgent. Gen Z, meanwhile, sees mental health as a core part of overall wellbeing, and they’re willing to invest in it.
Whether it’s budgeting for counselling or spending on things that support emotional balance, Gen Z sees value in spending on wellness. To them, saving money while ignoring your mental health isn’t smart; it’s short-sighted.
