'Shuva' Index: Generation Z in Germany is becoming more pessimistic about their financial and professional future

The Shufa index revealed that what is known as Generation Z, which includes young people between the ages of 16 and 25, has become more pessimistic in Germany. Only forty percent of them believe that they will be able in the future to improve their financial level to a level similar to or exceeding the level of the generation that preceded them.

According to the same indicator, this percentage was 72% in 2018 for this age group, according to the German newspaper “Frankfurt Rundschau” in its issue published today (Monday, August 25, 2026). This relates to a survey conducted by the Forsa Foundation on behalf of the credit data company Shufa Holding.

The index also monitored a noticeable pessimism among Generation Z in terms of their career prospects, as only 52% of those surveyed believed in obtaining a good and secure job. In 2018, this percentage was 71%. It seems that many teenagers and young people no longer believe in the old promise that prevailed during the period of the economic miracle, which said that each generation will live a better life than the generation that preceded it.

According to the Shofa Index, Generation Z has a good level of financial literacy. Survey participants also mostly evaluated their financial situations positively. About 68% of them are satisfied or very satisfied with their financial situation, while 82% say that they are able to manage their money well or very well. 39% of young people aged 16-17 have less than 100 euros per month at their disposal. As for working youth, their average income, according to the survey, is 1,332 euros.

It is noteworthy that the topic of financial education has become more present in school education. Almost half of 16-17 year olds (46%) had previously covered financial topics in their lessons, an increase of nine percentage points compared to the previous year. Among young people between the ages of 18 and 21 years, 29% said that they learned about financial topics in school, while the percentage reached 28% among the age group from 22 to 25 years.

“Financial knowledge is an important key to participation in society,” Tanja Birkholz, CEO of the Shufa Board of Directors, explained to the German newspaper. “The marked increase in the number of young people who are already learning about financial topics in their school curricula represents an important and encouraging development. At the same time, the continuing and great desire for more financial education shows that there is much more to be done in this regard.”

For her part, Carmela Abrea, a specialist in economic education and a member of Shufa’s Consumer Advisory Council, said that the school curriculum has not changed much over the past years. “At the same time, awareness of the importance of financial education has increased, including among teachers who take advantage of the spaces available to them within the school curriculum.”

Germany, in general, lags behind the international trend in this area. Only in 2023 did the Ministries of Finance and Education give the green light to launch an educational initiative in this regard, and Germany was the last G20 country to start such an initiative. However, plans to develop a national financial education strategy have not yet been implemented.