A nationwide survey finds young Britons increasingly trust money-saving tips from group chats and social media over traditional financial websites, with 43% expressing greater trust in group chats and 82% saying these spaces have influenced their money-saving habits.

Group chats are used for discount codes (36%), supermarket price drops (30%), and restaurant deals (22%), highlighting these channels as practical money-saving tools for the young.

About 71% of 18- to 28-year-olds use messaging apps and online groups to find money-saving tips, indicating social channels are a primary source for this demographic.

The findings come from Censuswide, which surveyed 2,001 UK adults between February 11 and 13, commissioned by Nationwide.

Young adults aim to save about £7,536 in the year among 25 to 34-year-olds, with common methods including cutting nights out (37%) and taking on side hustles (32%).

On average, 18 to 28-year-olds have saved up to £512 in a year, more than £200 higher than their parents.

Nationwide's head of savings, Richard Stocker, says young people are re-writing the money rulebook by using social media to learn, share tips, and support each other.

Social media is a prominent source of financial guidance, with 48% of respondents turning to TikTok for money-saving tips and financial advice.