Cutting through social media noise and getting real about your money
Gen Z basically grew up with a mobile in hand. Every outfit, trip, oat latte, or “get ready with me” moment can turn into content within seconds. Social media, for young adults, is more than entertainment — it’s a cultural compass.
It shapes how Gen Z defines success, security, self-worth, and even what a “normal” lifestyle looks like. Constantly scrolling through curated feeds of picture-perfect lifestyles can make anyone feel like they’re not measuring up.
In fact, according to a new report by RBC, The Cost of Keeping Up: How Social Media is Shaping Gen Z’s Money Mindset, 64 per cent of young Canadians say what they see online makes them feel financially behind.
To understand how social media shapes Gen Z’s money habits, aspirations, and anxieties, RBC surveyed more than 1,000 Canadians aged 18 to 24. And let’s just say, the results are pretty eye-opening.
Like, did you know that almost half of young adults think about their savings or monthly finances daily?
Over 25 per cent believe they need to make $100k to $149k by age 30 to live the lifestyle they want. (Reality check: the average salary for 25 to 35 year olds is $46,500.) To keep up, one in three Gen Zers reported they have skipped meals to save money.
The bottom line is, while social media is fun, it’s also financially triggering.
RBC’s study also found that after just 60 minutes of scrolling, feelings of anxiety and jealousy increase, while positive emotions drop — so much so that 55 per cent say that even when they’re doing fine, social media can make them feel like they’re struggling.
At the same time, rising costs, mounting student debt, and a challenging job market make financial independence harder than ever. It’s a lot.
If you’re among the Gen Zers looking for help to cut through the noise, we’ve put together seven hot tips from RBC to help you lock in on your financial wellbeing
Clean out your feed
Do a “feed cleanse” every season. If an account makes you question your worth or sparks unnecessary FOMO, it’s out.
Replace it with creators who keep it real — the ones sharing actual financial tips, relatable stories, or just good vibes.
The two-day rule
If you’re online shopping, give your brain 48 hours to pause before hitting the “buy now” button. Ask yourself if it’s something you actually want or if you just got swept up in the algorithm.
Park that item on a wishlist and think, “Do I really need this?” You’ll be surprised how often the urge fades!
Schedule time away from scrolling
Being online constantly causes anxiety so step away once in a while! RBC recommends setting a weekly “financial break” — just 30 minutes where you check in with your real-life money.
That could mean tracking your spending, applying for bursaries, or simply reviewing your budget.
Get clear on the why
Pull out the notes app and write down your goals and the reasons behind them. This way, you can make sure they actually matter to you and are not based on what you’re seeing online.
Make it bite-sized
Big money goals can feel impossible — until you break them down. Say you want to save $1,200 in a year. That’s $100 a month or $25 a week. Totally doable, right?
Pro tip: Automate those transfers so you don’t even have to think about it!
Get the group chat going
Talking about money doesn’t have to be embarrassing. Having support from your peers can make saving even easier.
Text a friend before buying something, or create a savings group where you check in once a week on your goals and cheer each other on.
Celebrate your milestones
Your financial milestones matter, big or small. Tell your family or friends about a win. Paid off a bill? Hit your savings goal for the month? Survived a no-spend week? Hype yourself up and even post it in the group chat.
Remember, social media is a highlight reel — not the full picture. The truth is, no one’s life looks as perfect as their posts.
Behind every story is a real human also trying to figure it out. By taking small steps like the ones above, you can lock in on your financial goals with calm confidence and make quiet progress.
Want more helpful tips? Check out RBC’s report: The Cost of Keeping Up How Social Media is Shaping Gen Z’s Money Mindset today.