Why Gen Z Blames Schools for Their Spending Habits—and What They’re Doing About It

Why Gen Z Blames Schools for Their Spending Habits—and What They’re Doing About It

Gen Z has developed a reputation for spontaneous purchases, TikTok-inspired shopping hauls, and viral splurges at events like Taylor Swift concerts or Amazon Prime Day. But behind the memes and spending stats is a deeper concern—and many Gen Zers say the problem isn’t just poor self-control. They blame their schools.

A recent study by Young Enterprise and HSBC reveals that over two-thirds of Gen Z adults are criticized for their financial habits, and many are pointing the finger at the education system. Nearly 50% of respondents said they struggle to save money because schools and colleges failed to teach practical financial skills.

What Is Doom Spending?

Experts call it “doom spending”—impulsive spending triggered by stress, uncertainty, or pressure to keep up socially. Whether it’s a reaction to rising inflation or a need for instant gratification, doom spending can quickly derail long-term financial health.

According to the data, 39% of Gen Zers feel the harshest judgment comes from their own families, while 17% say it comes from social media. Still, most defend their actions, insisting they were never taught how to manage money, invest wisely, or budget responsibly.

The Rise of ‘Adulting’ Classes

As the cost of living continues to rise and job competition intensifies, many Gen Zers are turning to alternative learning: adulting classes. Programs like “Adulting 101” at the University of Waterloo (UW) and similar offerings at Toronto Metropolitan University (TMU) teach basic but essential life skills—budgeting, cooking, sewing, folding sheets, and even career prep.

First-year TMU student Aldhen Garcia admitted, “I don’t know how to change a tyre. I don’t know how to sew. I don’t know how to do a lot of things, other than cooking.” For him, learning financial literacy is just as important as any subject taught in school.

Another student, Bella Hudson, echoed the sentiment: “I do wish they had classes that taught how to manage yourself and manage your life.” For a generation raised in a digital-first world, practical life skills are becoming more valuable than ever.

How to Overcome Doom Spending

For those ready to change their habits, overcoming doom spending isn’t impossible—it just takes strategy and consistency. Here are a few practical tips Gen Z (or anyone) can start using today:

• Set spending limits before you shop, online or in-person.

• Create realistic savings goals like setting aside £10 per week.

• Add friction to purchases by removing saved cards or deleting shopping apps.

• Manage stress with healthier alternatives than retail therapy.

• Stick to a shopping list and avoid impulse buys.

• Learn from others—seek advice from financially stable friends or professionals.

Final Thoughts

Gen Z isn’t ignoring their financial reality—they’re responding to it. With high inflation, a competitive job market, and limited financial education, it’s no surprise that many young adults are feeling unprepared. But they’re not staying stuck.

Through community classes, online resources, and open conversations about money, Gen Z is rewriting the rules of “adulting.” They’re asking better questions, taking responsibility, and creating a more informed generation of consumers.

The next time someone criticizes a 24-year-old for spending too much on concert tickets or online deals, consider this: maybe they’re not reckless—they’re just catching up on what they were never taught.