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.
- Climate disaster
- Rise of Fascism (again)
- AI poised to replace many jobs, especially entry-level
- Education increasingly expensive
- Healthcare increasingly expensive, and in some cases being made unavailable (eg: vaccines, abortion, gender related stuff)
- At least one ongoing genocide
Yeah, it’s a hellscape, and a lot of people refuse to do anything about it. Or they’re making it worse on purpose.
The rich have fucked it all up.
So far, nobody has provided a point that isn’t “you’re fucked, the rich want you to be fucked, and there’s nothing whatsoever you can do about it”.
There is always the use of excessive violence. Always a good backup.
The generation that lived through 3 “once in a lifetime” economic disasters doesn’t trust their money will be there when they need it. Gee I wonder why?
I mean honestly every generation felt the same way and had their own issues. This generation though has had a lot more pessimism from the influx of random media and bored Lazy journalist trying to come up with today’s story.
It’s right that times are harder. But principals are the same. These kids won’t always be kids. The market is tough. But save and invest and eventually most will land a job and with time work their way up to a salary that will provide. But if we’ve hammered kids with this idea there is no future, I think we might have fucked up even worse then just a bad economy ever could.
Isn’t a bit backwards to expect saving and investing before a salary that provides? What are they meant to invest?
Budgeting and saving can happen at any salary. You don’t wait until you have the salary.
When every cent goes to bills, there is nothing left to save.
Yea I’ve been there. I’ve lived it. Not everybody is in that situation.
I think the disconnect comes where accessible jobs don’t provide enough for living, let alone saving.
As a millennial with a decently paying job, I’m not as confident that they’ll end up with that salary. The job market is rough, I don’t envy anyone entering it right now and can’t blame them for their pessimism.
I’m in it now. It’s not great. But it isn’t impossible. It just takes work. But that work gets much harder if people are bombarded by this fear porn.
Please name a generation that has gone through three Great Depression events.
Go on.
There are literally four currently alive (and stragglers from past generations) that lived through the same 3 events. And in my very strong opinion, Gen Z was not hit the hardest of the current generations.
Bad bait
Bait?
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.
US currency rapidly heading towards Zimbabwe dollarydoodoo status, the gen z are onto something here.
Unless Congress can find some balls to tax the rich, it’s only going to get worse. And since the rich are legally allowed to buy and own the Congress critters…good luck anyone younger than boomers.
I don’t blame then, when everything is getting so expensive you have such a high risk of going bankrupt if you want to buy a house why would you. When all of our social saftey nets, social security included, are at risk and the average life expectancy is going down and you have to work for the rest of your life even if you save money, why would you. I may not be a part of that generation but i feel like when all you got to look forward to in life is nothing but work, you don’t feel like you have much to live for so you are going to make it as enjoyable as possible and hope you die early enough that it doesn’t matter that you didn’t save money.
These slaves don’t care to slave! RHEEEE
