Representatives of generations Z and Y began to spend more on small purchases due to the stress of constantly increasing prices, he writes Bloomberg.
For younger generations today, financial goals such as buying a home and saving for retirement seem unattainable due to high inflation. Believing that their financial future is doomed, Zoomers and millennials prefer to “live in the here and now.” According to the article, 27% of Americans under the age of 30 comply with this principle.
“Economic problems, global warming, constant political and social unrest. It is easier to spend money on things that will provide instant gratification,” said one of the publication’s interlocutors.
The purchasing behavior of today’s youth has changed due, among other things, to increased parental support. Many Zoomers and millennials continue to live with their families, giving them the opportunity to spend more on pampering themselves.
Fatalism and irrational spending habits among the general public have become more prevalent since the pandemic.
Before that Russians given Five tips for managing personal finances in 2024.
Previously recognizedHow many Russians started saving after taking out a mortgage?