The moment financial current is not among the best, at least not for most people. However, this difference increases even more between generations.
Have you noticed that our parents found it easier to buy houses, land and other goods, achieving a stable life? That's exactly what we're talking about.
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Today the Generation Z, which is made up of people born between 1995 and 2010, faces setbacks. By the way, these individuals usually need to stay longer at their parents' house until they acquire financial independence.
A new report released by the renowned financial publication Pymnts, in partnership with LendingClub Corp, addresses revealing information about the financial gap between elderly, middle-aged and younger people.
Generation Z tries to balance economically in the turbulent period
The recent survey involved nearly 3,400 US consumers. The data revealed a significant increase in the proportion of so-called Generation Z adults, aged 26 and under, who live monthly waiting for their next paycheck. That is, people who consider the salary inefficient.
It is worrying to observe that young people who are entering the labor market with lower wages face difficulties in meeting their basic needs.
This early career phase can be challenging, especially when combined with a higher debt-to-earner ratio. income.
Surprisingly, the baby boomer generation, aged between 58 and 76, managed to stabilize financially. The savvy generation, according to the data, revealed that less than 50% of respondents lived paycheck to paycheck.
Young people are particularly susceptible to unexpected expenses and would face significant hardship if they lost their source of income. In the survey, even if they are facing financial difficulties, young people prefer to invest in entertainment and meals.
It seems that Generation Z works with that technique of compensating for chaos with a good snack, doesn't it? However, it is time for that to change.
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