Explore News Center Topics
News Center arrow icon Media Assets arrow icon Multimedia Library

How social media has shifted financial literacy across America’s generations

Spruce, the mobile banking app built by H&R Block, unveils valuable insights on the role of digital tools for financial decisions and the growing impact of social media has on the financial literacy on society, especially Gen Z. The data underscores a critical shift in financial education, with younger generations relying on platforms where information may not always be vetted or accurate.

Financial Literacy Survey Highlights:

  • 13% cited learning about money at school, highlighting a gap.
  • 37% admit they’ve tried a finance trend they discovered online.
  • 68% of Gen Z have tried a social media finance trend.

Spruce fintech platform is built by H&R Block, which is not a bank. Bank products by Pathward®, N.A., Member FDIC.

Download assets

Financial Literacy Survey Highlights

Social media has a growing influence on our financial decisions, especially for Gen Z. Check out the full data from the survey in the assets below.

0%

cited learning about money at school, highlighting a gap.

0%

admit they’ve tried a finance trend they discovered online

0%

of Gen Z have tried a social media finance trend

Related media assets.

Explore H&R Block multimedia assets and download for your use.

View on desktop to download zip file.

Press Release

A Survey by Spruce Reveals Social Media’s Growing Influence on Gen Z’s Financial Decisions, Highlighting a Generational Divide in Learning about Money

Image

Headshot: John Thompson

Document

Bio: John Thompson

Logo

Spruce Logo

Document

Spruce Financial Literacy Infographic
Load more