Gen-Z's Plans For World Domination

Gen Z, the rising post-millennial generation has grown up fast. So fast in fact, 2017 saw the first Gen Z graduating class and 88% of them said they chose their major with job availability in mind. Their views on education, career paths, and especially finances are unlike any other generation before them, and perhaps we can all take a lesson from their unique point of view.

 

As the generation starting from 1997 to present, Gen Z has had a lot to look back on. Seeing their parents’ net worth drop by 45% during the Great Recession and taking lessons from millennials’ experience with crippling student loan debt, the main thing on Gen Z’s mind financial stability. By age 13, these kids are already beginning their future financial planning, with 89% of them expressing that making these plans makes them feel empowered. Among Gen Zers, 60% already have a savings account, 54% have a checking account, and 32% are managing their own credit cards.

 

By 2020, Gen Z will make up 40% of consumers and already they have a spending power of up to $143 billion. But don’t be fooled, this generation is spending their cash on their own terms and with lifetime goals in mind. Take a look at this infographic for a closer look into the minds of Gen Zers and exactly why they are so financially mindful.