Gen Z and Millennials spend over $200 a month on activities with friends. Having friends comes at a high cost for many 18-44-year-olds. According to a survey commissioned by digital bank Ally Financial, “three out of five young adults admit social spending affects their financial goals.” But even if it eats into their budget plans, 25% said they’d rather be “fundless than friendless.” Still, 69% of them meet up with their friends in person weekly, but 42% think they routinely “overspend” on these activities. Although Gen Z and Millennials are cost-conscious, plenty would rather spend the money than experience FOMO and face loneliness. YPulse data similarly shows 73% of 13-39-year-olds agree that seeing their friends’ posts online of cool things they are doing makes them wish they were there. (NY Post)
👀 Read more from YPulse: Gen Z is Prioritizing Friendship Over Romance
