Already with a spending power of up to $143 billion, Gen Z will account for 40% of consumers by 2020. This post-millennial generation made up of those born from 1997-present have taken many lessons from previous generations successes and failures.
The collective Gen Z attitude towards finances is unlike any other generation before them. The way they view education, careers, and even hobbies seem to revolve around one central idea: financial safety. Among them 89% say that planning for their financial future makes them feel empowered and 64% have already begun researching for their own financial plans. The result is a stalwart generation focused on financial security, stability, and most importantly, independence.
Gen Z may be young, but their goals are made to last. This infographic details more about the Gen Z mindset, how they are facing their financial fears, and why we can all take a lesson from this generation of forward thinkers.