Why Gen Z Is Making A HUGE Financial Mistake!

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[paigec]

Gen Z here who thought like this:

I used to think like this. I didn’t see a point to saving beyond a small emergency fund bc it would take such a significant percentage of my budget to save up & thought I’d be happier just making it up later. (After college). I was right, I’m saving now, and it’s easier for me to save $50 to make up for the $20 I didn’t save years ago. I multiplied my income by 4x in a single year

However, I now believe it is wiser and more secure to save what I can regardless of how much it is.

[butlerbees]

They only people I’ve heard use the phrase “invest in myself” were young women going on vacation or to Starbucks after a day at the salon.

[TheRealMEEDABEE]

I'm one of the happy Gen-Zs who have given up on the "things getting back to normal" mentality - the world's gonna keep on changing, the river's gonna keep on running, so if you don't adapt and swim hard then you're gonna sink fast

[liveslisa]

I've seen this with my nieces. They want to travel, but don't have lucrative jobs. I don't know how they do it. I never traveled when I was young because I couldn't afford it or if I could afford it, I couldn't get the time off from my job. Travelling was not a priority. Keeping a roof over my head and the electricity on was the priority. I didn't want to be homeless. They don't seem to worry about being homeless. I hope I live long enough to see where they end up in their 40's, 50's, and 60's.

[manderm]

Tbf I am only 30 and I'm currently debt free with an EF and investing for retirement. Wish I started earlier as I only found Dave Ramsey a few years ago but people start where they are at. At 18/19 I had no knowledge of investing or being financially responsible

[paulstandaert]

"at the expense of reality." I like that!

[iEatPandaz]

Statistically, isn’t most of Gen Z still in college? Its pretty hard to save during those years

[KennedyFamEver]

Gen Z are currently 10-25 years old. Kind of makes sense that 1/2 of them aren't saving. Some are too young to have a job and may not have parents who allow chores for $. If this were specific to the 18-25 yr old range that would make more sense.

[AppleOrchardThief]

I don't think they meant starting your own business by "investing in ourselves". I think they more-so mean taking care of mental health types things and trying to be healthier overall.

[TacticalBro]

I like that there’s a carnival cruises ad attached to this😂

[conductingintomfoolery]

“This utopia” my friend… this is basic civilization standards to be able to afford housing, food, family and hobbies with a normal job. This has been since they time for Euphrates civilization.

[Landon_Hughes]

When I hear "Invest in yourself", I just think of buying courses, certifications, and books to get you further in life.

Then there's those that think "investing in yourself" means buying starbucks every day and buying status items that depreciate in value.

[Leeon_King]

Why are they acting like Gen Z has money for retirement?

[TRUCKERTV]

Good job guys, somebody finally said it! 👌👍👏👏

[bradleykurtz]

My idea of retiring is buying acreage and lowering my food cost, then working it until my demise.

[spiderdude]

Gen Z doesn't think "investing in myself" means starting a business or getting a degree. To Gen Z, that just means having fun and feeling good about yourself. Financially speaking, this means wasting money on frivolous things chasing those good feelings.

[Cauhauna]

Be a crockpot in a world full of microwaves

Well said, George

[Rocksquare]

It says retirement not savings. Maybe they stopped putting the money in retirement and kept it in a more liquid savings account because of the unknown of the pandemic.

[Wipper]

What really bothers me is when Gen Zs post so much pictures and videos on social media about them being rich and doing all those dangerous stunts. That's all lies because they airbrush and swap photos of themselves to stuff like that.

[zimmermanlandscape]

I don’t want gen z to save money. Keep working and paying taxes forever