Economics

910 readers

58 users here now

founded 2 years ago

When it comes to saving, Gen Z asks: 'What’s the point?' That's dangerous, expert says (www.cnbc.com)

submitted 1 month ago by MicroWave@lemmy.world to c/economics@lemmy.world

19 comments fedilink hide all child comments

Many feel frustrated by a tough job market and worried about debt, experts said.

Gen Z seems to have a case of economic malaise.

Nearly half (49%) of its adult members — the oldest of whom are in their late 20s — say planning for the future feels “pointless,” according to a recent Credit Karma poll.

A freewheeling attitude toward summer spending has taken root among young adults who feel financial “despair” and “hopelessness,” said Courtney Alev, a consumer financial advocate at Credit Karma.

They think, “What’s the point when it comes to saving for the future?” Alev said.

you are viewing a single comment's thread
view the rest of the comments

[–] assembly@lemmy.world 37 points 1 month ago

Their share of disposable income is incredibly low. Picture someone 40 years ago with a much higher percentage of disposable income, of course they would be more into saving…they were able to save AND actually buy stuff once in a while. Gen Z has the option of saving OR paying rent.