Gen Z is spending more than previous gens did at the same age. NeilsenIQ and World Data Lab’s recent “Spend Z” report revealed that Gen Z’s collective spending power will reach approximately $12T globally by 2030. But already, most 25-year-olds from this gen are spending “exponentially” more than Gen X did at the same age—and it’s expected to continue growing. A Charles Schwab Modern Wealth survey also revealed that nearly two thirds of all Americans believe they are more capable of achieving their financial goals compared to previous generations. However, YPulse data shows Gen Z may not be spending because of financial confidence, but simply because things are so much more expensive today—and they want to enjoy themselves despite the stress of inflation. (Yahoo Finance)
📊 YPulse data: 84% of 18-24-year-olds agree, “I try to save, but I still want to have a good time”
