Youtube is the new TV, TikTok has birthed a whole new language, and streaming services have long replaced CDs/MP3s. Gen Z is an era like none before it. Many of the trending artists in this generation rose to fame through viral videos (Doja Cat, Jack Harlow, Olivia Rodrigo), and “influencer” is a legit career that Gen Zs aspire for. 

Although they managed to avoid the worst of the GFC (some of them weren’t even born yet), this group copped the biggest L when Covid-19 spread like crazy and the whole world went into shutdown. The aftermath of the pandemic was not pretty (we’re still going through it tbh) with major economic uncertainty and inflation at all time highs. This deeply affected views on job security, education, and mental health. 

💰 Money mindset: Gen Zs are financial realists - job security and stable income are a high priority for this generation, even if it means “quiet quitting” (mentally checking out of a job but meeting enough of its requirement to stay employed). They’re also creator economy natives, where making money online is the most accessible it’s ever been! 

💰 Saving/spending habit: Gen Zers tend to be super-savers, starting early and saving more. They are less likely to splurge than Gen Y, however, compared to Gen X they are still more likely to spend on experiences and lifestyle rather than on possessions.

💰 Investing mindset: Feeling like they are priced out of the housing market, Gen Zs are starting to invest early, sometimes even before turning 18. Like Millennials, they are more likely to invest in cryptocurrencies and passive ETFs. They’re also much more likely to make ESG and ethical investment considerations, and feel sustainability and impact investing is important.

💰 Financial tech adoption: Most likely to source information from social media (TikTok or Instagram most favoured) and most likely to act on the tips from ‘finfluencer’ content. Similar to millennials, they are native users of digital financial tools and are very comfortable with digital payment methods. 

For a generation that created ‘brain rot’, Gen Zers are shaping up to be financially literate AF. See how they compare with Gen X in Part 1, and Gen Y in Part 2.