Gen Z Savings Crisis: Rent to Blame
- Sarah Ruivivar
- Jul 2, 2025
- 2 min read
It seems Generation Z is caught in a bit of a pickle when it comes to saving those precious pennies.
According to Aldermore’s latest findings, the blame game points to "sky-high rent" as a major culprit in this savings saga.
For those not in the know, Generation Z includes the bright young things born between 1997 and 2012. But here’s the kicker: a whopping 18% of them have no financial safety net, and a quarter have cut back on savings over the last year. Those who did save are now tucking away £350.50 less than before. Yikes!
This financial strain is causing sleepless nights for 4.4 million Gen Zers, with 41% tossing and turning over their dwindling savings. And let’s not forget the 43% who are avoiding their bank balances like the plague.
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But it’s not all doom and gloom! Over half of Gen Z savers are keeping their chins up, feeling optimistic as inflation starts to ease its grip. Alex Myers from Aldermore suggests that even small, regular savings can pave the way to financial security. A little here, a little there, and voila—financial peace of mind!
Aldermore’s survey, which gathered insights from 3,000 folks, shines a light on the financial hurdles faced by today’s youth. So, whether it’s a piggy bank or a digital savings app, every little bit counts in building a brighter financial future. Keep calm and save on, Gen Z!
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Access from your preferred podcast provider by clicking here
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