Financial stress is shaping how young Canadians use social media, according to a new survey from TD Bank (1) — with more than half of Gen Z respondents saying they feel pressured to appear financially secure, even when they’re struggling behind the scenes.
The survey, released October 14, found that 53% of Gen Z Canadians feel compelled to maintain a successful image on social media, while nearly two-thirds (65%) believe they’re falling behind their peers financially. The findings paint a picture of a generation juggling high costs, modest incomes and social comparison — both online and IRL.
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“Gen Z is under constant pressure to appear financially secure as soon as they begin their careers, while many are struggling behind the scenes with stress, debt and uncertainty,” said Kristy Irwin, product group owner, youth & student at TD, in a release.
“The pressure to look like they have it all together — for friends, family and social media — only adds to the real financial challenges they already face in today’s tough economy.”
Behind the ‘fake it till you make it’ mindset
While image is a big part of the story, the survey suggests deeper structural issues are driving this sense of instability. Over 3,000 Canadians were surveyed via the online poll, including nearly 500 Gen Z respondents.
Nearly half (47%) of Gen Z respondents cite the cost of living as their biggest barrier to achieving financial goals, while 36% say their income simply isn’t enough to get ahead.
Many young adults also admit to feeling lost when it comes to money management. According to the survey, one in five (20%) said they don’t know where to start when it comes to managing their money, and nearly three-quarters (73%) worry that a single financial mistake could set them back.
That mix of uncertainty and social pressure appears to be eroding the financial confidence of young Canadians. Only 37% of Gen Z report feeling in control of their finances, and 64% say they experience financial stress multiple times a week — a higher rate than any other generation surveyed.
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Redefining financial success
Even amid those pressures, the TD survey shows Gen Z is also rethinking what financial success actually looks like for them.
For example, many are prioritizing lifestyle and freedom over traditional milestones. Seventeen percent said their top financial goal is saving for a better lifestyle, another 17% prioritize financial independence, while 19% aim for homeownership.
That shift doesn’t mean long-term planning is off the table, but it does reveal a different set of values. Half (50%) said they prefer to splurge on experiences like travel and dining out rather than save for the future, while just 55% believe they’ll be able to retire comfortably.
“Even taking small steps can add up to big wins in both the near term and the long run,” said Irwin. “Young Canadians are at the perfect stage of life to build these savings habits.”
A generation squeezed by higher costs
While the TD survey highlights the emotional toll of growing financial pressures, broader data helps to illustrate the big picture.
According to recent CPI data from Statistics Canada (2) , inflation still remains stubbornly high in 2025, with rent, food and transit costs rising faster than wages for many younger workers. That’s left Gen Z Canadians with less financial flexibility and almost zero room for error — conditions that amplify stress and make saving or investing feel increasingly out of reach, if not futile.
However, experts say that context matters: when the basics consume most of a paycheque, ‘financial freedom’ can feel like a moving target. TD’s findings suggest young Canadians are aware of that reality, but are still trying to navigate it with cautious optimism and a focus on small, sustainable progress.
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Article sources
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Newswire (1); Statistics Canada (2);
This article originally appeared on Money.ca under the title: More than half of Gen Z Canadians feel pressured to ‘fake’ financial stability: TD
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