When it comes to saving, Gen Z asks: 'What’s the point?' That's dangerous, expert says

Submitted ⁨⁨1⁩ ⁨day⁩ ago⁩ by ⁨MicroWave@lemmy.world⁩ to ⁨economics@lemmy.world⁩

https://www.cnbc.com/2025/06/07/gen-z-asks-whats-the-point-of-saving-money.html

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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jjjalljs@ttrpg.network ⁨1⁩ ⁨minute⁩ ago
Climate disaster

Rise of Fascism (again)

AI poised to replace many jobs, especially entry-level

Education increasingly expensive

Healthcare increasingly expensive, and in some cases being made unavailable (eg: vaccines, abortion, gender related stuff)

At least one ongoing genocide

Yeah, it’s a hellscape, and a lot of people refuse to do anything about it. Or they’re making it worse on purpose.

The rich have fucked it all up.
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BlameTheAntifa@lemmy.world ⁨1⁩ ⁨hour⁩ ago
So far, nobody has provided a point that isn’t “you’re fucked, the rich want you to be fucked, and there’s nothing whatsoever you can do about it”.

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makeshiftreaper@lemmy.world ⁨1⁩ ⁨day⁩ ago
The generation that lived through 3 “once in a lifetime” economic disasters doesn’t trust their money will be there when they need it. Gee I wonder why?

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- Melvin_Ferd@lemmy.world ⁨1⁩ ⁨day⁩ ago
  I mean honestly every generation felt the same way and had their own issues. This generation though has had a lot more pessimism from the influx of random media and bored Lazy journalist trying to come up with today’s story.
  
  It’s right that times are harder. But principals are the same. These kids won’t always be kids. The market is tough. But save and invest and eventually most will land a job and with time work their way up to a salary that will provide. But if we’ve hammered kids with this idea there is no future, I think we might have fucked up.
  
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  - owenfromcanada@lemmy.ca ⁨1⁩ ⁨day⁩ ago
    As a millennial with a decently paying job, I’m not as confident that they’ll end up with that salary. The job market is rough, I don’t envy anyone entering it right now and can’t blame them for their pessimism.
    
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  - 4am@lemm.ee ⁨1⁩ ⁨day⁩ ago
    Please name a generation that has gone through three Great Depression events.
    
    Go on.
    
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assembly@lemmy.world ⁨1⁩ ⁨day⁩ ago
Their share of disposable income is incredibly low. Picture someone 40 years ago with a much higher percentage of disposable income, of course they would be more into saving…they were able to save AND actually buy stuff once in a while. Gen Z has the option of saving OR paying rent.

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crusa187@lemmy.ml ⁨1⁩ ⁨day⁩ ago
US currency rapidly heading towards Zimbabwe dollarydoodoo status, the gen z are onto something here.

Unless Congress can find some balls to tax the rich, it’s only going to get worse. And since the rich are legally allowed to buy and own the Congress critters…good luck anyone younger than boomers.

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nman90@lemmy.world ⁨1⁩ ⁨day⁩ 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.

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