Almost half (43 per cent) of young Britons are now trusting financial tips shared in their group chats more than information found on traditional financial websites, a new survey suggests.
The poll, conducted for Nationwide, revealed that 71 per cent of 18 to 28-year-olds actively use messaging apps and online groups to discover money-saving tips and tricks.
These digital communities are proving highly influential, with 82 per cent of respondents claiming such spaces have directly shaped their money-saving habits.
Young people are leveraging them to find discount codes (36 per cent), track supermarket price drops (30 per cent), and secure restaurant deals (22 per cent).
This generation is also demonstrating ambitious financial planning, as 25 to 34-year-olds aim to save an average of £7,536 this year.
Their practical methods include cutting back on nights out (37 per cent) and taking on “side hustles” (32 per cent).
These efforts appear to be paying off, with 18 to 28-year-olds having saved an average of £512 annually – a figure more than £200 higher than their parents’ savings.
Beyond private chats, social media platforms are also a key source of financial advice and practical strategies, with TikTok emerging as a favourite for 48 per cent of young people.
Richard Stocker, head of savings at Nationwide, said: “Young people are re-writing the rulebook when it comes to money, and it’s encouraging to see them using social media not just for entertainment, but to learn, share tips, and support each other.”
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The Censuswide survey gathered insights from 2,001 UK adults between 13 and 13 February.
An earlier report from the Harris Poll said that TikTok is Gen Z’s app of choice as they are increasingly ghosting other social media apps.
A strong majority of young adults use the app daily, although many are starting to pull back to pursue other hobbies and interests.