The kids aren\u2019t alright.<\/p>\n
It\u2019s no surprise that Gen Z \u2014 the generation born between 1997 and 2012 \u2014 isn\u2019t the best with their money. A poll from Newsweek revealed that adult Zoomers <\/a>have around $94,000 in personal debt \u2014 thanks to never-ending credit card spending. <\/p>\n And the proof is in the pudding \u2014 according to the 2025 TIAA Institute-GFLEC finance and retirement report<\/a>, most of Gen Z is financially illiterate. <\/p>\n The report showed that on average, Zoomers score only 38% correct on financial literacy tests.<\/p>\n Because of this, in the U.S., 29 states now require a personal finance course<\/a> as a high school graduation requirement. <\/p>\n However, the course requirement comes a little too late for Gen Z since 3 out of 4 of them wish they were taught finances 101 in school because they don\u2019t feel prepared now, according to a recent report from Intuit<\/a>.<\/p>\n Gen Z wishes they learned about finances earlier in school. Cavan for Adobe \u2013 stock.adobe.com<\/p>\n \u201cWe know that students need to begin learning essential personal finance concepts earlier, and our latest Prosperity Index Study results show that 60% of Gen-Z are eager for more financial education,\u201d Dave Zasada, vice president of education and corporate Responsibility at Intuit, told Forbes<\/a>. <\/p>\n Luckily, Gen Zers do have access to informational resources online yet many feel overwhelmed by it all. It also doesn\u2019t help that many parents financially support their Zoomer kids \u2014 which doesn\u2019t teach them the value of a dollar. <\/p>\n A report conducted by\u00a0Savings.com<\/a> revealed that 50% of US parents hand an average of $1,474 a month to their Gen Zers to keep them afloat in today\u2019s economy. <\/p>\n A Reddit thread<\/a> dissected this subject and many grumpy people in the comment section blame these generous parents for this generation being financially illiterate.<\/p>\n Some parents foot the bill for everything \u2014 vacations, pet expenses and rent. Valerii Honcharuk \u2013 stock.adobe.com<\/p>\n \u201cFor some reason, parents of Gen-Z are okay with just giving them a credit card and letting them meander through life on a tether,\u201d noted one Redditor. <\/p>\n \u201cTo be fair, those kids don\u2019t need credit cards as their parents just pay for everything anyway,\u201d agreed another.<\/p>\n Instead of shelling out monthly spending allowances or handing over an American Express credit card at a young age, experts feel that parents can instead take it upon themselves to educate their adult children about finances. <\/p>\n CJ MacDonald<\/a>, founder of Step, told Parents.com<\/a> that parents can explain how to build good credit since \u201cCredit is foundational.\u201d<\/p>\n Gen Z might rely on their money bank parents too much. andranik123 \u2013 stock.adobe.com<\/p>\n Learning how to invest is important, too.<\/p>\n