It’s all too easy for older people to scoff at “the youth of today”. Generation Z (born between 1995 and 2010) were raised in a world immersed in technology and pop culture – a world very different to that of older generations. With such stark differences between the world today and the world fifty years ago, it’s natural that behaviors, tastes and outlooks may appear inexplicable from opposite sides of the generational divide. Unfortunately, what we can’t understand, we tend to judge…
This intergenerational alienation, however, may not affect Generation Z in quite the same way as the preceding Millennial generation (born between 1981 and 1995). While Millennials fall victim to jokes about “special snowflakes” and are stereotyped are serial brunch Instagrammers, Generation Z have not been scorned in the same capacity. Rather, this generation is increasingly receiving the nod of approval from older people, as they prove themselves to be smart savers and entrepreneurial spirits.
Although Generation Z can be stereotyped as stressed and depressed, this cohort is also deemed to be more risk-averse, more responsible and more educated than previous generations. Recent research also suggests they may be very good with money. So what makes Generation Z so financially savvy? What can we learn from young people about taking care of our finances?
1. Amazing savings
Frightening world events were inescapable in the childhoods of Generation Z. While wars, terrorism and financial crashes dominated the news, the news itself became impossible to avoid as media became omnipresent within society. With so much information, and so much to worry about, it’s little wonder that Generation Z is one of the most cautious, responsible generations in recent decades.
This cautiousness manifests in Generation Z’s approach to saving. Research suggests that around 40% of Generation Z students save 20-40% of their monthly income, while 20% save 40-60% of their monthly income. These young people save a lot – and save consistently. As the typical Generation Z-er’s income rises, so too do their savings.
December 4, 2019
3 Reasons Gen Z Are Money Mavens – A Rain of Thought
maximios Review
It’s all too easy for older people to scoff at “the youth of today”. Generation Z (born between 1995 and 2010) were raised in a world immersed in technology and pop culture – a world very different to that of older generations. With such stark differences between the world today and the world fifty years ago, it’s natural that behaviors, tastes and outlooks may appear inexplicable from opposite sides of the generational divide. Unfortunately, what we can’t understand, we tend to judge…
This intergenerational alienation, however, may not affect Generation Z in quite the same way as the preceding Millennial generation (born between 1981 and 1995). While Millennials fall victim to jokes about “special snowflakes” and are stereotyped are serial brunch Instagrammers, Generation Z have not been scorned in the same capacity. Rather, this generation is increasingly receiving the nod of approval from older people, as they prove themselves to be smart savers and entrepreneurial spirits.
Although Generation Z can be stereotyped as stressed and depressed, this cohort is also deemed to be more risk-averse, more responsible and more educated than previous generations. Recent research also suggests they may be very good with money. So what makes Generation Z so financially savvy? What can we learn from young people about taking care of our finances?
1. Amazing savings
Frightening world events were inescapable in the childhoods of Generation Z. While wars, terrorism and financial crashes dominated the news, the news itself became impossible to avoid as media became omnipresent within society. With so much information, and so much to worry about, it’s little wonder that Generation Z is one of the most cautious, responsible generations in recent decades.
This cautiousness manifests in Generation Z’s approach to saving. Research suggests that around 40% of Generation Z students save 20-40% of their monthly income, while 20% save 40-60% of their monthly income. These young people save a lot – and save consistently. As the typical Generation Z-er’s income rises, so too do their savings.