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When it comes to saving, Gen Z asks: 'What’s the point?' That's dangerous, expert says (www.cnbc.com)

submitted 1 month ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Many feel frustrated by a tough job market and worried about debt, experts said.

Gen Z seems to have a case of economic malaise.

Nearly half (49%) of its adult members — the oldest of whom are in their late 20s — say planning for the future feels “pointless,” according to a recent Credit Karma poll.

A freewheeling attitude toward summer spending has taken root among young adults who feel financial “despair” and “hopelessness,” said Courtney Alev, a consumer financial advocate at Credit Karma.

They think, “What’s the point when it comes to saving for the future?” Alev said.

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[–] nman90@lemmy.world 22 points 1 month ago

I don't blame then, when everything is getting so expensive you have such a high risk of going bankrupt if you want to buy a house why would you. When all of our social saftey nets, social security included, are at risk and the average life expectancy is going down and you have to work for the rest of your life even if you save money, why would you. I may not be a part of that generation but i feel like when all you got to look forward to in life is nothing but work, you don't feel like you have much to live for so you are going to make it as enjoyable as possible and hope you die early enough that it doesn't matter that you didn't save money.