

Gen Z is demonstrating a strong commitment to financial planning, prioritising long-term financial security over short-term luxuries, according to a new study.
Research from international law firm Charles Russell Speechlys, which surveyed 4,000 individuals, revealed that over two in five (43%) Gen Z adults would use financial support, such as inheritance or monetary gifts, to save for the future. Meanwhile, a third (33%) would opt to buy a property outright, and 32% would use it as a deposit for a home.
In contrast, only 22% would spend financial assistance on a significant one-off purchase, while one in five (20%) would use it for travel. Even fewer (17%) would share it with family or friends.
Conversations about inheritance
Alongside their focus on financial stability, Gen Z is also more willing to discuss wealth and inheritance. The study found that four in five (81%) Gen Z adults have engaged in conversations about inheritance or estate planning, compared to 68% of older generations.
Additionally, when considering their own legacy, over half (54%) of Gen Z respondents indicated they would leave their inheritance to their children, a sentiment closely aligned with that of older generations (53%).
Charles Russell Speechlys partner Sally Ashford highlighted the generational shift in financial attitudes, stating: “Gen Z has grown up in a challenging financial environment and the impact on their attitudes to wealth is evident. While you might think that younger people have a more laissez-faire approach to their finances, we’re seeing Gen Z start to think earlier about their financial plans both as they progress into adulthood and later life.
“It is useful to have these kinds of difficult conversations about wills and inheritance sooner rather than later to ensure you are prepared for unexpected events, but these topics have traditionally been a bit taboo for older generations. Hopefully Gen Z’s attitudes to wealth will make it easier for these discussions to take place with parents and older generations.”
A generation of investors
Gen Z’s financial caution extends to their approach to investments. Nearly one in four (23%) respondents stated they seek financial advisors or professionals for investment advice, compared to 15% who rely on social media platforms. Only 6% of Gen Z reported not seeking financial advice at all, significantly lower than the 26% of Millennials who avoid financial guidance altogether.
The research also indicates that Gen Z values sustainable investments but remains focused on financial outcomes. While 35% want their investments to have a positive social impact, they prioritise financial returns. In comparison, just 8% of Gen Z respondents said they exclusively prioritise financial outcomes, a significantly lower figure than the 31% recorded among Millennials.
Regarding charitable giving, seven in ten (71%) Gen Z adults believe donating to charity is important. However, financial security remains a priority, with 54% preferring to save for their future rather than contribute to charitable causes. Just 38% incorporate donations into their monthly budgets.
William Marriott, partner at Charles Russell Speechlys, noted: “Financially savvy and equipped with more resources and knowledge than previous generations, Gen Z understand the importance of financial planning as early as possible.
“When it comes to financial literacy, younger people are worrying about planning their financial future and not spending their money on unnecessary or extravagant things, but above all, they worry about saving money. On the other side, we’re also seeing that they are more curious and interested in learning how products and services work”.
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