Why Gen Z is Approaching Money Differently Than Other Generations

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Recently, whilst on a packed public metro train, I was bumped into by a high school student.

“S…sorry uncle” he stammered.

What the deuce! UNCLE? Good gracious, I was only 10 years older than the little dude.

This sad state of affairs instantly made me realize two things.

One is that I am no longer as nubile as I felt, and two, how little do I know about the upcoming generation, Generation Z (those born 1997 to present).

So I did some searching around and luckily, one of my favourite blog sites Visual Capitalist shared a fascinating insight into the minds of Generation Z and their approach to personal finance.

Here’s their infographic, hope you find it educational and learn a thing or two!

Why Gen Z is Approaching Money Differently Than Other Generations

Some key highlights:

  • School is a means to an end. Which is very true when you think about it. I remember growing up, my parents had the mentality of get good grades, go to a good school, go to a good uni, find a good job, marry a good girl, have some good kids and bam, live a good life. Not so true anymore.
  • Interesting also to see that Health and Tech are the two areas of desire vocation. Ah kids these days, so very astute – in the future, health and tech will SURELY be the growth areas compared to say… personal finance blogging (not worth it).
  • Stability is king. I had a misconception that these kids seem to want nothing but changing the world and saving our planet – but good to see that financially and career-wise, STABILITY is all they want.
  • Social Media use… not unexpected that it is prevalent and RAMPANT for Gen Zer’s, they grew up with a screen since they were being conceived methinks… no surprises here.
  • And wow, 13 is the average age they start researching financial planning? That’s the age I discovered por…Pythagoras theorem… whoa kids these days – they grow up EARLY.

DAYAM! These kids seem switched ON.

No wonder that they are going to be such a driving force, they’ve grown up in the shadows of the Great Recession into a decade long growth and bull market with technological advances at their fingertips.

Watch this space, as they grow up – the big money will be made in getting in front of this generation…. and anticipating what exactly they need.

Hmph, maybe a better pair of glasses. “Uncle”, SERIOUSLY?

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