After Family, Financial Planners Are Students’ Most Trusted Source for Advice and Only 5% Trust Social Media Influencers
WASHINGTON–(BUSINESS WIRE)–Two-thirds of Gen Z college students say they want to learn more about personal finance topics, according to CFP Board’s new study, Dollars and Sense: A Report on the Personal Finances of College Students.
Eighty-three percent of college students agree that financial well-being is important for their happiness and life satisfaction. Students view money as a path to independence (61%), a means to achieve long-term goals (60%), and a tool for security and stability (58%). While 40% also see it as “a way to enjoy oneself right now,” two in five acknowledge money as a source of stress and anxiety.
Despite mixed feelings about money, most students (64%) feel confident managing basic personal finances like budgeting and saving, though confidence levels differ by gender. College men are significantly more likely than women to feel confident managing their finances (71% vs. 60%).
This confidence, however, doesn’t diminish students’ appetite for guidance. Students strongly recognize the importance of financial knowledge and show great interest in expanding their awareness. 65% of college students express a desire to learn more about personal finance topics — particularly as they prepare to enter the workforce and navigate increasingly complex financial decisions. Upon graduation, at least half of college students expect needing investment advice (56%) and budgeting and savings strategies (50%).
“Today’s college students are tomorrow’s employees, investors, homeowners and parents. Their early financial choices will shape their financial futures and ripple beyond their own bank accounts into the broader economy,” said CFP Board CEO Kevin R. Keller, CAE. “This research points to a clear window of opportunity for financial planners and educators to meet students where they are with accessible, nonjudgmental guidance as they take their first financial steps. Reaching them early can help build a healthy and confident relationship with money that lasts a lifetime.”
College Students’ Primary Financial Goals
Thirty percent of college students say their main financial goal after graduation is to pay off their student loans. A similar percentage of survey respondents plan to prioritize building an emergency fund (28%). Some students indicate that they may focus on financial goals such as investing for retirement (16%), saving for a large purchase (16%) or having enough money to do what they enjoy (10%).
Even among college students who are very confident in managing their finances, almost all still have at least one concern about their financial future. Nearly two-thirds of undergraduates worry about finding a stable job (66%) and affording major purchases such as a home or a car (64%). Many others are also concerned about saving for emergencies or retirement (55%) and achieving life goals (54%).
“College students are confronted with many financial choices, especially after graduating and starting their first full time job. They suddenly encounter student loan repayments, 401(k)s, HSAs, FSAs and more,” said Kevin Roth, Ph.D., Managing Director of Research at CFP Board. “They’ve seen other generations struggle and they are serious about getting their finances on the right track. It’s a golden opportunity for financial planners and educators to provide trusted financial guidance.”
Trusted Sources and Barriers
The most trusted sources of financial advice for college students are family (58%), followed by financial planners (55%). In comparison, only 5% of survey respondents say they trust financial advice from social media influencers. While most college students trust advice from financial planners, only one in five currently receive guidance from them.
A majority of college students indicate that not knowing where to find the right professional (64%) or what questions to ask (56%) can prevent them from seeking financial advice. At least two in five students express fears of being judged by a financial professional for their financial decisions (47%), a belief that they do not need financial advice (42%) or feel they cannot afford professional financial services (40%).
Download and read Dollars and Sense: A Report on the Personal Finances of College Students here.
Methodology
CFP Board collaborated with College Pulse to conduct a survey of undergraduate college students across the U.S. College Pulse selected its survey sample from its American College Student Panel™, which includes over one million verified students representing more than 1,500 colleges and universities in all 50 states.
The firm received responses from 2,025 college students between September and October 2025. The data are weighted based on gender, race and ethnicity, voter registration, financial aid status, and class year. The data presented in this report has a margin of error of +/- 2.2% at a 95% confidence level. The survey data serve as the basis for this report. CFP Board’s Research team conducted the analysis, drew the conclusions and is responsible for the report’s content.
ABOUT CFP BOARD
CFP Board is the professional body for personal financial planners in the U.S. CFP Board consists of two affiliated organizations focused on advancing the financial planning profession for the public’s benefit. CFP Board of Standards sets and upholds standards for financial planning and administers the prestigious CERTIFIED FINANCIAL PLANNER® certification — widely recognized by the public, advisors and firms as the standard for financial planners — so that the public has access to the benefits of competent and ethical financial planning. CFP® certification is held by more than 107,000 people in the U.S. CFP Board Center for Financial Planning addresses diversity and workforce development challenges and conducts and publishes research that adds to the financial planning profession’s body of knowledge.
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