The soft saving trend is becoming more popular among Gen Z. YPulse told you before about how some young people are embracing a soft saving lifestyle—and now that same mentality is going mainstream. According to a Prosperity Index Study by Intuit, “three in four Gen Z would rather have a better quality of life than extra money in their banks.” Some of the reasons for the drop in personal savings among the younger gen has to do with wanting to spend more after not spending as much during the pandemic, inflation making it harder for people to save in general, and an overall attitude shift bringing new financial priorities to the workforce. Young people want to use any extra income they have to enjoy life now. (CNBC)
