Gen Z vs Boomers: What Their Mindset Means for Workplace Wellbeing
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Last updated: 12 October 2026
Gen Z and Baby Boomers approach money differently, but both want financial security and confidence. Younger employees tend to feel more day-to-day money pressure, while older employees often have more experience and savings habits behind them. For employers, that means offering financial wellbeing benefits that work at every life stage, not one size for all.
Understanding how each generation approaches money is essential for supporting financial wellbeing in the workplace. 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, a survey of 1,000 UK adults, both generations share a desire for financial security and confidence.
Who counts as Gen Z and who counts as a Baby Boomer?
In this article, Baby Boomers are people born between 1946 and 1964, and Gen Z are people born between 1995 and 2009. Their starting points with money are very different.
Baby Boomers (born 1946 to 1964) grew up when TV was a new technology. Many are now close to or in retirement, often with years of saving and money habits behind them.
Gen Z (born 1995 to 2009) have never known a life without tech. Many are early in their careers and still building their financial foundations.
While their experiences differ, both generations care about financial security, highlighting the need for inclusive financial wellbeing initiatives.
Does money affect Gen Z’s social life more than Boomers’?
Yes. In our survey, more than a third of Gen Z reported turning down social plans because of their finances, while Boomers 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. National data points the same way: the FCA’s Financial Lives 2024 survey found that 31% of 18 to 24 year olds had low financial resilience, compared with 11% of adults aged 75 and over.
Which generation is more confident with money?
In our research, Boomers feel more assured in their financial decisions, while Gen Z are more likely to judge themselves for how they spend.
Across generations, financial confidence is closely linked to wellbeing, and providing employees with guidance and support can help bridge confidence gaps. 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 employee benefits does each generation need?
Each generation faces different money pressures at work, so the most useful benefits change with life stage. The table below sets out common life-stage priorities alongside national data on financial resilience from the FCA.
| Generation (born) | Common money priorities at this life stage | Closest FCA age band: adults with low financial resilience (2024) | Benefits that can help |
|---|---|---|---|
| Gen Z (1995 to 2009) | First salary, budgeting, building savings, understanding a payslip and workplace pension | 18 to 24: 31% | Budgeting and saving education, one-to-one coaching, an app they can use privately |
| Millennials (1980 to 1994) | Housing costs, family costs, debt, growing a pension | 25 to 34: 32%; 35 to 44: 30% | Coaching on budgeting and debt, protection information, pension contribution guidance |
| Gen X (1965 to 1979) | Supporting children and parents, pension checks, planning for later life | 45 to 54: 26%; 55 to 64: 19% | Pension and retirement planning sessions, access to regulated advice, later-life planning |
| Baby Boomers (1946 to 1964) | Retirement timing, drawing a pension, passing on wealth | 55 to 64: 19%; 65 to 74: 15%; 75+: 11% | Pre-retirement sessions, pension access guidance, signposting to Pension Wise |
Notes on the table: the FCA measures by age, not generation, so the age bands are the closest match. Low financial resilience means someone could not cope for even a week without their main income, is struggling with small rises in rent or mortgage payments, has missed bills in three or more of the last six months, or finds keeping up with bills a heavy burden.
Two more national findings are useful when planning benefits:
- The FCA found that 35% of 18 to 24 year olds held no general insurance or protection products in 2024, compared with 14% of all UK adults.
- The CIPD’s Health and wellbeing at work 2025 report found that 43% of organisations offer financial education and support to all employees, so many employees still have no access to it through work.
What do all generations want?
Despite their differences, 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. Our report also found that people are looking to the workplace for guidance, education and support with money, whatever their age.
How do you design financial wellbeing benefits for every generation?
Generational differences are an opportunity, not a barrier. Offer a core of support everyone can use, then add help that fits each life stage.
- Ask first. Run a short, anonymous survey on money worries and break the results down by age group.
- Offer a mix of formats. Some people prefer an app or short videos, others want a one-to-one conversation.
- Match content to life events. Starting work, buying a home, having children, caring for parents and approaching retirement all bring different questions.
- Keep it confidential. People of every age are more likely to ask for help when they know it stays private.
- Signpost free guidance. MoneyHelper, backed by government, offers free and impartial money guidance, including on pensions.
An employee financial wellbeing programme brings these together, with coaching, education and an app that employees of every generation can use. Inclusive programmes build confidence, reduce financial stress, and support happier, more engaged teams across every age group.
Frequently asked questions
What is the main difference between Gen Z and Boomers with money?
Life stage and experience. Gen Z are early in their working lives and still building savings and habits, so day-to-day pressure is higher. Boomers often have years of saving behind them and feel more assured in their decisions. Both generations told us they want financial security and confidence.
Which generation struggles most with money?
National data suggests younger adults are more exposed. The FCA’s Financial Lives 2024 survey found low financial resilience among 31% of 18 to 24 year olds and 32% of 25 to 34 year olds, compared with 11% of those aged 75 and over. Individual circumstances vary widely at every age.
What employee benefits do Gen Z want?
Our research suggests many Gen Z employees feel money pressure in daily life and can be self-critical about spending. Practical budgeting and saving education, private one-to-one coaching and an app they can use in their own time are good places to start. Ask your own people to confirm their priorities.
Should employers offer different benefits to different generations?
Offer one core programme that everyone can use, then tailor content to life stages rather than to age labels. A 25-year-old and a 55-year-old may both be buying a home or caring for someone, so events matter more than birth year.
Where can employees get free pension guidance?
MoneyHelper offers free, impartial guidance on pensions and money. Its Pension Wise service offers free guidance appointments for people aged 50 and over with a defined contribution pension. The value of pensions and investments can go down as well as up.
Help your team at every stage of working life
Want to find out how we can help your team, whatever their generation? Contact us here.
Or download a sample of our 2025 Money & Mindset report for more insights.
The value of pensions and investments can go down as well as up, and you may get back less than you invest.
