Financial Illiteracy in Gen Z

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How Academic Coaching Can Help

Gen Z job applicants are facing headwinds when entering the job market. Getty Images.

By Sarah Lyman Kravits, LifeBound Master Trainer | August 5, 2025

According to research by the TIAA institute, which looked at financial literacy across a span of ages, Gen Z demonstrated the most significant level of financial illiteracy of all five generations of U.S. adults. Even though they are also the generation most likely to have had a class or program in financial education, young adults in Gen Z are facing a perfect storm of a difficult job market, growing complexity in the systems they must learn to navigate, and an explosion of choice in money management tools and strategies.

This recent article in Fortune Magazine by Jane Swift elaborates on the landscape of difficulty faced by Gen Z college students as they try to prepare for what awaits them after graduation — a high-stakes scenario that often includes paying off significant loans while trying to cover rising living expenses. Swift entreats colleges to connect career counseling and financial education and embed them in the learning experience.

How can academic coaches contribute? Students need more than facts about 401Ks, finance charges, and withholding to be able to navigate their adult finances effectively. They need key skills and strengths they can build in working with coaches — including accountability, thoughtful decision-making, metacognition regarding habits and tendencies, and the willingness to learn from others.

Coaches can:

Ask questions that encourage students to take accountability for their actions.
Provide time in sessions to break down and think through complex decisions.
Challenge students to see habits and their consequences clearly, envision changes they want to make, and put in the work to shift habits toward greater effectiveness.
Encourage and promote reaching out to partners who can help students build financial literacy (career services and other offices).

These transferable skills can make an enormous difference in students' functioning once they graduate. As Swift notes in the article, "A generation of learners is entering adulthood amid intense economic, technological, and social flux. They need an education that prepares them for all of it."

Make 2025 the Year Coaching Solves Higher Ed’s Toughest Challenges

Higher education is grappling with unprecedented challenges—rising mental health crises, the need for greater career readiness, and the unfortunate reality that many students struggle to secure meaningful employment or are let go shortly after starting. These issues affect not only individual students but also university outcomes like enrollment, retention, and long-term institutional success.

By equipping your staff with coaching training, you can help students build resilience, achieve meaningful employment, and address many challenges that universities face today. Allocate your budget toward LifeBound’s training options this year and plan ahead to ensure your institution is prepared to address these critical needs effectively. Let’s create a campus-wide culture of coaching and make an impact in 2025!

LifeBound offers multiple ways to train academic coaches, faculty, or staff:

3-Day Virtual Coaching Course

A dynamic, interactive course focused on practical coaching techniques.

September 5, 12, 19 - NEXT CLASS

Additional Class Dates:

October 10, 17, 24

November 7, 14, 21

December 11, 12, 15

Time: 3 days, 6 hours each

Format: Online

Cost: $1,500 per person. Contact us about group rates.

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Self-Paced Coaching Course for Academic, Personal, and Professional Success

A flexible, 15-hour program designed for those who want to deepen their skills at their own pace. The course dives deep into foundational and advanced coaching techniques as well as motivation, resilience, career readiness, cultural competence and coaching diverse student populations, and includes private sessions with a LifeBound Coach. Institutional packages are available for group training.

Choose Your Own Dates!

Time: 15 hours (self-paced), plus 3 hours with LifeBound Coach

Format: Online

Cost: $1,500 per person. If you’ve already completed the 1-Day or 3-Day program, email contact@lifebound.com to receive a discount code for $500 off the new Self-Paced Course. Contact us about group rates.

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LifeBound Certification Program

For coaches ready to take their skills to the next level, the LifeBound Certification Program offers an in-depth dive into advanced coaching practices and strategies, culminating in certification as a LifeBound Coach.

Spring, Summer, and Fall Cohorts

Summer 2025 Cohort (in progress), Fall 2025 Cohort (Sep 30 - Jan 13)

Format: Online or in-person as available

Cost: $5,000 per person

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Let’s make 2025 a year of transformation for your institution and the students you serve!

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