FatCamera / Getty Images If members of Gen Z are able to stay focused on their financial goals in 2025, many of them will have their family and friends to thank.Try This: I’m a Financial Advisor: 10 Most Awesome Things You Can Do for Your Finances in 2025Check Out: 8 Must-Read Personal Finance Books of 2024 for a Fresh Start in 2025According to GOBankingRates’ recently released Financial Head Start Survey, 22% of Gen Zers said using loved ones as accountability partners will be their top choice for staying on target financially in the year to come. Other age groups were less likely to cite family and friends, with the next-highest percentage being 25- to 34-year-olds at 19%.Next, learn about the riskiest social media platform for financial advice.Gen Z — the generation born between 1997 and 2012 — may be on to something. There are multiple reasons to consider leaning on family and friends for financial advice and support, including personalization, trust and affordability.There are potential cons to the family-and-friends approach over other strategies. Even if they’re well-meaning, your loved ones may lack the financial expertise of trained professionals and may not be up on the latest financial wisdom. They may also have biases or conflicts of interests that could affect the advice they give. It’s still worth considering help from financial pros, online resources and financial planning course.Proceed with caution, but here are five reasons family and friends may be your best bet for financial advice — followed by some tips if you go this route.Find Out: 3 Signs You’ve ‘Made It’ Financially, According to Financial Influencer Genesis HinckleyOne of the primary advantages of seeking financial advice from family and friends is the personalized guidance and support they can offer. Family members, in particular, have a deep understanding of an individual’s financial goals, values and circumstances, enabling them to provide tailored advice.For instance, a parent who has navigated the college financial aid process can offer invaluable guidance to their child, helping them to avoid costly mistakes and maximize their financial aid package. Similarly, a friend who has successfully managed their own debt can provide practical tips and advice to someone struggling with similar issues.Financial decision-making can be emotionally challenging, and having a supportive network can make all the difference. Family and friends can offer emotional support and empathy, helping individuals to navigate difficult financial situations.For example, a family member who has experienced financial hardship can offer a listening ear and words of encouragement, helping their loved one to stay motivated and focused on their financial goals. Similarly, a friend who has overcome financial obstacles can provide inspiration and guidance, helping someone to stay on track.Trust and confidentiality are essential when seeking financial advice. Family and friends a
Gio. Gen 9th, 2025
