Research has shown that people from Generation Z and Generation Millenium find it very difficult to adjust their financial lives. The Deloitte survey heard 22,000 people in 44 different countries between December 2022 and March 2023. Therefore, this is a recent study on the subject.
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Most young people and adults who make up these generations say that life is all about working to earn a salary. In other words, the popular expression “sell lunch to buy dinner” seems to fit well in the current situation.
Generation Z and Millenium find it difficult to organize finances
Even if they are resilient people and manage to overcome the barriers that technology poses and the innovations that arise every day, these people do not seem satisfied with life. Economic uncertainty is one of the points that most undermines the quality of life of Generation Z.
Research has shown that over 50% of both generations live paycheck to paycheck. This means that they cannot do a nest egg to carry out plans and have more peace of mind. The high prices of products and increasing material needs have a direct impact on this aspect of life.
In fact, the cost of living remains the top concern for both Gen Z and Millennials, with over a third ranking it as a top concern.
Starting a family is harder
Due to finances, Generation Z people say it is increasingly difficult to start a family. They claim that there is no time to take care of simple and common tasks that involve taking care of the house, the children, cooking, spending quiet time at home, etc.
Most alarming is that research shows that these people are increasingly enslaved to work. Most are in two jobs, without children and with a pet.
However, both generations are optimistic and believe that the future holds good surprises.
