Gen Z vs Boomers: What Their Mindset Means for Workplace Wellbeing

Understanding how each generation approaches money is essential for supporting financial wellbeing in the workplace. By recognising these generational trends, employers can design employee wellbeing programs and workplace benefits that meet the needs of all employees. From TikTok to TV, smartphones to rotary phones, Gen Z and Baby Boomers couldn’t be more different, yet according to our 2025 Money & Mindset report,  both generations share a desire for financial security and confidence.

Understanding generational context

• Baby Boomers (born 1946 to 1964): Committed, self-sufficient, and competitive, Boomers grew up when TV was a new technology. They tend to be socially secure and financially confident, often building long-term habits around saving and treating others.

• Gen Z (born 1995 to 2009):Ambitious, digital-native, and confident, Gen Z have never known a life without tech. Yet they are often self-critical and cautious about spending, reflecting both online pressures and less experience with real-world finances.

While their experiences differ, both generations care about financial security, highlighting the need for inclusive financial wellbeing initiatives.

Social life and financial Decisions

For Gen Z, money can affect even everyday social life: more than a third report turning down social plans because of finances. Boomers, by contrast, rarely let money get in the way of socialising. Overall, younger employees tend to feel more financial pressure in their day-to-day lives, while older employees benefit from habits and experience that make them more socially and financially confident.

Confidence and self-perception

Gen Z are more likely to judge themselves for how they spend, while Boomers feel more assured in their financial decisions. Across generations, financial confidence is closely linked to wellbeing, and providing employees with guidance and support through financial wellbeing programs can help bridge confidence gaps.

Financial preparedness and habits

Experience matters. Gen Z are still building their financial foundation, whereas Boomers often have years of habit-building and saving behind them. While regret over financial decisions is more common among younger employees, both generations value stability and want practical tools to make the most of their money.

What do all generations want?

Despite differences, both Gen Z and Boomers share an interest in financial security. Boomers enjoy saving and supporting others, while Gen Z are conscientious and aware of money’s impact on their lives. Employers who recognise these shared priorities can design employee wellbeing strategies that appeal broadly, rather than assuming one size fits all.

Designing inclusive financial wellbeing benefits

Generational differences are an opportunity, not a barrier. By understanding how Gen Z and Boomers experience money, organisations can create workplace benefits that improve financial wellbeing for all employees. Inclusive programs build confidence, reduce financial stress, and support happier, more engaged teams across every age group.

Want to reach out to find out how we can help your team? Contact us here.

Or download a sample of our 2025 Money & Mindset report for more insights here!