A Survey by Spruce Reveals Social Media’s Growing Influence on Gen Z’s Financial Decisions, Highlighting a Generational Divide in Learning about Money
H&R Block, Inc. (HRB)
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Source: GlobeNewswire
KANSAS CITY, Mo., March 31, 2025 (GLOBE NEWSWIRE) -- Designated as National Financial Literacy Month, April is intended to raise awareness about the importance of financial education and to encourage healthy financial habits. Yet, a survey conducted by Spruce, the mobile banking app built by H&R Block1, 2, reveals many may be relying on platforms where virality is valued over validity. The findings underscore the growing role of digital content in shaping financial habits and the pressing need for reliable, accessible financial education in today’s technology-driven landscape. The survey highlights a generational shift in financial education, with younger consumers, particularly Gen Z, increasingly turning to social media for financial tips and education, while older generations more heavily rely on traditional sources like family and banking institutions. The survey also revealed the impact of social media on their financial choices and their confidence in managing money. Desp
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