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Macrotrends

The FUND-amentals

... Gen Ys and Zs have radically different views on what constitutes financial security, with Ys having an eye on the present and Zs focusing on the future, which ultimately affect their respective saving and spending habits. Young people’s attitudes toward money are formed, along with many other long-lasting defining characteristics, in the crucible of adolescence. While the largest portion of Gen Ys spent these formative years during an economic boom, most Gen Zs, conversely, were witness to the ...

The Monetization Generation

... Gen Zs prioritize earning an income and collecting savings as they aspire to achieve financial independence and security.As children of the Great Recession, Gen Zs are highly focused on making and saving money. They understand the importance of being prepared for an uncertain financial future and are prioritizing it from a young age. Rather than exclusively relying on their parents to give them an allowance or depending on someone else to employ them, they’re increasingly taking it upon ...

Dollars And Sense

... preceded them, they won’t be receiving any sort of inheritance until they are, at least, in their 50s (if at all, given how many Boomers have been hurt by the economic crisis). Thus, they have an even more critical need to start saving now. Unfortunately, 51% are not actively planning for their financial future. This isn’t because they don’t want to; they simply don’t know how because few traditional financial services are providing them with educational resources and strategic tools that address ...

WELLth Investors

... drinks, boutique spin classes, and pricey athleisure attire. Such purchases are admittedly aspirational, but they’re also easy to justify—even among those consumers who can’t really afford them—since buying these things incentivizes them to lead a healthy lifestyle. By spending on wellness today, Ys believe they are saving on medical bills tomorrow. As a 25-year-old female told us, “I’ll rationalize buying $90 yoga pants because they motivate me to be healthy. I’m more likely to work out ...

The Retail & Spending Perspective

... away for savings or a rainy day (as do 89% of Millennials). Together, the actions of these younger generations are poised to have an outsized impact on the economy compared to the actions of Boomers and Xers, both of whom are both less fearful and less likely to be already taking action. We identified a series of emerging trends in the ways that Millennials and Gen Z are redefining their attitudes toward spending and saving for our latest edition of Life Interrupted. First, young people are ...

The Generational Manifesto

... Zs), tend to share the same approach to spending and saving, having experienced these key events during a pivotal time in their lives. These events shape their future behavior: Ys aren't concerned about saving and instead spend for the present because they grew up during a time of economic prosperity, whereas Zs are highly cautious with their money and value financial security because they grew up witnessing financial struggles. Likewise, the way in which people are raised, such as having ...

On The (Im)pulse

... go away and then figure out what concessions they need to make to afford the trip. Moreover, as employers increasingly offer unlimited vacation time and the ability to work remotely, young consumers can act upon their passion for travel without worrying about saving their days for pre-planned reasons or something that may come up in the future. Meanwhile, as young adults are also more likely to embrace the freelance economy, they can choose when and where they want to work. Contrast these modern ...

No Money, More Problems

... Ys' tendency to delay milestones that were easily hit by earlier generations: buying a home, getting married and having kids, and saving for retirement. And these financial issues don't just mean Ys have to wait a few years to buy a house: they're negatively impacting this cohort’s mental health and creating constant stressors, whether that's due to debt or the fear that they won’t be able to live up to expectations set by previous generations. In Cassandra’s qualitative research, a Gen Y female ...

Home & Away Work & Commuting Trends

... with the hassle of parking, is often timely, but an issue arises with cost. Price is also an important factor when choosing methods of frequent transportation; 79% of young people in the U.S. and 78% in the UK, as well as 84% of U.S. Trendsetters and 83% in the UK, consider low cost to be important. Combining the importance of efficiency and low cost, ride share services are offering subscription programs that provide users the ease of car service with the money saving benefit of a membership. It’s ...