The financial market is dynamic and seems to have a modus operandi in each place, however, there are crises that seem to affect several regions at the same time. A report released by LendingClub Corp, for example, points to a widespread problem for Gen Z.
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According to the survey, young people belonging to this generation have more difficulties to prosper financially. At least that's what analysts understood when analyzing demographics.
The study was conducted with 3,400 US consumers. In particular, young people aged up to 26 demonstrate that they live in search of good wage constantly. This means that they cannot accumulate enough reserves to do long-term planning.
Unlike young people, elderly people aged up to 76 years are more likely to be stable in 50% of cases. That is, half of the group managed to support themselves financially until the time of the interview.
Also according to the study, the main reasons for the difficulties faced by generation Z are:
- Increased cost of living;
- More technology equipment became necessary;
- Consumption need;
- Less job offer;
- Between others.
Analysts reinforce the need to accumulate amounts for financial security in order to face unforeseen events.
How is Generation Z actually characterized?
Generation Z, also known as Gen Z, is the name given to the demographic cut that succeeds the millennial generation (Y).
While there is no universal consensus on the exact dates that define this generation, it is generally believed to encompass people born between the mid-1990s and mid-1990s from 2010.
Gen Z is often associated with the rapid advancement of digital technology and its constant presence in their lives. They grew up in an environment where the internet, smartphones, social media and instant connectivity have become an integral part of everyday life.
As a result, it tends to be highly connected, digitally native and technology-adapted. In addition, this generational cut is characterized by a multicultural and diverse mentality.
They grew up in an era of heightened awareness of issues of gender, ethnicity, sexual orientation and equality. Ethnic and cultural diversity is valued by this generation, which tends to be more open and inclusive of differences.
Generation Z is also often described as being enterprising, self-taught and concerned about social issues. They have a desire to make a difference in the world and are committed to causes such as sustainability, social justice and activism.