Almost a third (31%) of Gen Z aren’t confident managing money1. However, new data shows many are now taking steps towards longer-term financial planning.
Post Office data has revealed that Gen Z’ers are taking out longer life insurance policies than ever before, now stretching beyond 30 years on average2.
The average premium term for customers aged 18-29 has risen from 28 years in 2024 to 31 years in 2026 2, suggesting a move towards longer-term thinking when it comes to protecting their financial future.
Almost all (96%) adults aged 16 to 29 years report that the cost of living is their main concern, according to ONS figures3. Many are balancing challenges such as rising rent4 and average student debts of £47,9005 in England. However, this hasn’t stopped them from thinking about the long-term financial security of their loved ones.
To help young adults looking to take a longer-term approach to managing money, Post Office Insurance has shared five practical steps:
- Start small with savings
Even setting aside small amounts to save on a regular basis can build momentum over time. Developing consistent habits early can make long-term planning feel a lot more manageable.
- Track your spending
Knowing exactly where your money goes each month can highlight easy opportunities to cut back, without needing to give everything up.
- Create simple routines
Regular check-ins, such as a weekly budget review or a monthly financial reset, can help keep your finances on track and reduce stress.
- Plan in manageable steps
Thinking about the future doesn’t have to be overwhelming. Setting short-term milestones can make bigger financial goals, like protecting your future or building savings, feel more achievable.
- Use trusted guidance
Social media is the main source of information on financial products for 45% of young people, with almost 4 in 5 (77%) saying they trust advice from financial influencers6.
However, this can lead to misleading or inaccurate information. Checking whether a provider is authorised and regulated by the Financial Conduct Authority (FCA) can help consumers make more informed decisions.
A Post Office spokesperson added:
“Gen Z are showing encouraging signs when it comes to engaging with their finances. Many are opting for longer-term protection, which suggests a growing awareness of the importance of financial planning.
“However, confidence doesn’t develop overnight. It’s built through clear, accessible information and small, consistent steps. Financial guidance shouldn’t feel overwhelming or overly technical; the more straightforward it is, the more empowered people are to act.”
To learn more about Post Office Life Insurance, visit: https://www.postoffice.co.uk/life-cover/life-insurance
Sources:
1 Almost a third (31%) of Gen Z aren’t confident when it comes to managing money – The Investment Association
2 Internal Post Office claims data, 2026
3 ~Almost all (96%) adults aged 16 to 29 years report cost-of-living as their main issue – ONS
4 Challenges, such as rising rent – Zoopla
5 Average student debts of £47,900 – House of Commons Library
6 Social media is the main source of information on financial products for 45% of young people, with almost 4 in 5 (77%) saying they trust advice from financial influencers – MRM London
