Experts say Gen Z is moving away from traditional ways of working and saving, and instead focusing on a “softer” approach to money.
Millennials focus on hustle and hard work, while Gen Z (born between 1997 and 2012) reportedly focuses on other areas of life.
They focus on personal growth rather than letting their bank balance dictate their status.
Hosanna Hali is a TikTok creator who describes her personal approach to money:
She said she needs to prioritize her budget to ensure she can buy things that bring her joy in interviews. news.au.
“Choose an activity that you know will make you feel great about yourself and add monetary value to it,” she said.
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However, financial advisor Alex Jamieson also spoke to the magazine and warned that trends among Gen Z are concerning.
“As you go through life, your cash flow becomes more limited. I think you have to be kind to your future,” he said.
“I’m not saying don’t spend any money or go out, but it’s about finding a balance and being kind to your future self.
Jamison also said these habits can lead to Gen Z working much later in life.
“Life expectancy is increasing. I wouldn’t be surprised by their personal savings if they couldn’t retire until they were 80.”
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