'Faking it': Over half of Gen Z Canadians feel pressure to hide financial struggles, survey finds

More than half, or 53%, of Gen Z Canadians feel pressured to present an image of financial success, particularly on social media, even as many are struggling with debt and anxiety in a tough economy, according to a new TD survey. 

The findings highlight a significant gap between the digital image and the financial reality for young professionals just starting their careers, as nearly two out of three (65%) Gen Z respondents believe they are falling behind their peers financially. 

"Gen Z is under constant pressure to appear financially secure... while many are struggling behind the scenes with stress, debt and uncertainty," said Kristy Irwin, product group owner, Youth & Student at TD. "The pressure to look like they have it all together... only adds to the real financial challenges they already face." 

Generation Z (Gen Z) refers to people born between the late 1990s and the early 2010s, typically from 1997 to 2012. 

Cost-of-living fuels anxiety 

The survey reveals that the high cost-of-living is the biggest barrier for 47% of Gen Z in reaching their financial goals, while 36% report their income simply isn't enough to get ahead. 

This financial strain is translating into significant stress: 

• Worry: 73% worry that a single financial misstep could set them back.
• Milestones: 66% feel pressure to hit major milestones, like buying a home or building wealth, by a certain age.
• Stress levels: Nearly two-thirds (64%) of Gen Z say they experience financial stress multiple times a week - a higher rate than any older generation.
• Uncertainty: One in five (20%) admit they don't even know where to start when it comes to managing their money. 

Redefining success vs. future planning 

Despite the anxieties, Gen Z is redefining success by prioritizing present-day freedom and quality of life. They are twice as likely as older generations to want to save for a better lifestyle, such as travel or eating out. 

In fact, 50% say they prefer splurging more regularly now than saving aggressively for the future, the survey noted. 

However, many still pursue traditional long-term goals, with 19% aiming for homeownership and 17% seeking financial independence. Yet, this ambition is tempered by doubt: only 55% believe they will be able to retire comfortably. 

Irwin encouraged young Canadians to focus on building positive habits.  

"The mounting pressures don't mean that there aren't real ways to make progress," she said. "Even taking small steps can add up to big wins." 

The survey was conducted online in late July 2025 with a nationally representative sample of Canadians, including nearly 500 Gen Z respondents aged 18 to 28.