Almost half (43%) of young Britons say they trust financial tips shared in their group chats more than those found on financial websites, a survey suggests.
Almost three quarters of 18 to 28-year-olds (71%) use messaging apps and online groups to find money-saving tips and tricks, the poll for Nationwide found.
Some 36% use online group chats to find discount codes, supermarket price drops (30%) and restaurant deals (22%), while 82% claim such spaces have directly shaped their money-saving habits.
The poll found that 25 to 34-year-olds are aiming to save an average of £7,536 this year.
Methods to save money included cutting back on nights out (37%) and taking on “side hustles” (32%).
On average, 18 to 28-year-olds had saved up to £512 a year as a result, more than £200 more than their parents.
The survey found many are also turning to social media for financial advice and practical money-saving strategies, with 48% favouring TikTok.
Richard Stocker, head of savings at Nationwide, said: “Young people are re-writing the rulebook when it comes to money, and it’s encouraging to see them using social media not just for entertainment, but to learn, share tips, and support each other.”
Censuswide surveyed 2,001 UK adults between February 11-13.
Almost half (43 per cent) of young Britons are now trusting financial tips shared in their group chats more than information found on traditional financial websites, a new survey suggests.
The poll, conducted for Nationwide, revealed that 71 per cent of 18 to 28-year-olds actively use messaging apps and online groups to discover money-saving tips and tricks.
These digital communities are proving highly influential, with 82 per cent of respondents claiming such spaces have directly shaped their money-saving habits.
Young people are leveraging them to find discount codes (36 per cent), track supermarket price drops (30 per cent), and secure restaurant deals (22 per cent).
This generation is also demonstrating ambitious financial planning, as 25 to 34-year-olds aim to save an average of £7,536 this year.
These efforts appear to be paying off, with 18 to 28-year-olds having saved an average of £512 annually – a figure more than £200 higher than their parents’ savings.
Beyond private chats, social media platforms are also a key source of financial advice and practical strategies, with TikTok emerging as a favourite for 48 per cent of young people.
Richard Stocker, head of savings at Nationwide, said: “Young people are re-writing the rulebook when it comes to money, and it’s encouraging to see them using social media not just for entertainment, but to learn, share tips, and support each other.”
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