Gen Z, the young, growing, post-millennial generation, is set to make up 40% of consumers by 2020. Categorized apart from millennials as those born from 1997 and onward, this younger generation sets itself apart from older ones as free-thinking, hard working, and most importantly, cautious spenders. Gen Z approach their financial future carefully, taking a lesson from the sometimes extravagant habits of older generations. For millennials in particular, 40% have overspent or even gone into debt just to keep up with their social lives. This “fomo-tax” isn’t on the radar of Gen Z, as they take all purchases into consideration and think them through from groceries to universities. When asked, 72% of Gen Zers say that cost is the most important factor when shopping, and nearly 50% use their phones in-store to compare prices and reach out for advice from family and friends before swiping their cards. Small scale, this can appear frugal — but Gen Zers take the whole picture into consideration. Their spending and saving habits translate into a focus on financial responsibility, even at their young age. Take a look at this infographic for more on the rise of and how they are confronting their financial fears head-on. Gen Z, why their habits differ from earlier generations,

Fomo

A Look at the Healthcare Jobs of Tomorrow

A Look at the Security Risks of IoT Devices

Founder & President of NowSourcing, a leading infographic design agency

NowSourcing

The Innovate Summit

Book a Call

Case Studies

HackerNoon Contributor of the Year - STORYTELLING

Too Long; Didn't Read

Boost your HackerNoon story @ $159.99! 🚀

How Gen Z is Confronting Their Financial Fears

About Author

Comments

TOPICS

THIS ARTICLE WAS FEATURED IN

Related Stories

Untitled Story

10 Best Infographics Of 2018

How to Approach the Most Popular Futures, Options and Other Derivatives in Crypto and Legacy Markets

The Top 7 Mistakes Made By Novice Forex Traders

I succeeded by following the path of least resistance

06/06/2018: Biggest Stories in the Cryptosphere

10 Best Infographics Of 2018

How to Approach the Most Popular Futures, Options and Other Derivatives in Crypto and Legacy Markets

The Top 7 Mistakes Made By Novice Forex Traders

I succeeded by following the path of least resistance

06/06/2018: Biggest Stories in the Cryptosphere

Light-Mode

Classic

Newspaper

Dark-Mode

Neon Noir

Minty

HN StartUps