What Gen Z Cares About — And How Peer Financial Counselors Are Showing Up

Written By: Naolee Makonnen

As a Gen Z college student and peer financial counselor, I’ve had many conversations about money that reveal just how unique and urgent our generation’s financial and economic concerns are. Financial literacy isn’t just important for us, it’s essential. And yet, talking about money isn’t always easy. That’s where we peer counselors come in.

At Virginia Commonwealth University’s Financial Success Center, I’ve had the opportunity to guide students through their financial questions and confusions. Whether it’s helping someone set up their first budget, talking about the importance of a Roth IRA, or understanding credit scores, I’ve seen firsthand how a relatable and judgment-free zone can support students.

What Gen Z Is Worried About:

Here are the most common topics that come up in my conversations with students:

1. Debt and Tuition Costs
Many students are paying for their own education with loans and working part-time jobs to stay afloat. Understanding loan repayment plans, interest rates, and how to avoid default is a huge priority.

2. Credit Building
Opening a credit card can be very common for college students. But often, people will do it without fully understanding how credit works. I’ve had multiple conversations about how to build credit responsibly, avoid common mistakes, and why credit scores matter not just for loans but for apartments, job opportunities, and more.

3. Budgeting + Overspending
It’s easy to lose track of spending when food delivery and impulse buys are just a few taps away. Many students want help building a simple budget they can stick to, one that includes realistic spending on things like social outings, takeout, and textbooks. The key is not shaming students for their choices, but helping them align their spending.

4. Investing
Gen Z is very interested in investing. We’re watching TikToks about ETFs, asking about crypto, and wondering if we’re already behind. Students ask me about Roth IRAs, how to start investing with just $100, and the difference between a brokerage account and a retirement plan.

What Peer Counselors Offer: 

Peer counselors are able to meet students where they are emotionally and academically. We are aware of how difficult it may be to balance social life, side jobs, and classes. We understand what it’s like to balance gas money with grocery expenses. This common experience fosters trust. Students can ask questions they might be too ashamed to ask a professional. I’ve learned that my role isn’t to have all the answers; it’s to be someone’s “rockstar” in their financial journey. Sometimes that means walking someone through their first budget. Other times, it means encouraging them to log in to their student loan portal for the first time.

Things I’ve Learned Along the Way:

Being a peer counselor has taught me so much, not just about finance, but about empathy,
communication, and the diversity of financial experiences even within a single college campus.

I’ve learned:
● Listening matters more than lecturing.
● People need reassurance as much as they need spreadsheets.
● Everyone’s definition of success is different, and that is 100% valid.

The Bigger Picture: 

Financial literacy is more than knowing how to balance a budget; it’s a form of empowerment. As peer counselors, we have a front-row seat to the impact of early financial education, and we’re proof that students can be part of the solution. With the right training, resources, and support from organizations like AFCPE, we’re equipped to make financial wellness more accessible, relatable, and real for our generation.