Latest news with #doomspending
Bloomberg
21-06-2025
- Business
- Bloomberg
Gen Z Has Virtually No Excuse for Financial Illiteracy
The financial behaviors of Gen Z have been nothing if not consistent over the last few years. They routinely create trends about the merits of spending while you're young and fun. A few years ago, it was posting the text 'I'll make my money back, but I'll never…' with some image of a perceived once-in-a-lifetime experience. Now, the cohort is increasingly participating in ' doom spending ' — a form of retail therapy that helps consumers cope with everyday stresses — more than older generations. It dovetails with another troubling trend: Almost half of Gen Z – 49% – has decided saving for the future is pointless, according to a late May Credit Karma survey. These choices exemplify poor money management skills, a reality that has led Gen Z to blame schools for not teaching them more about how to manage their finances effectively. But of all the generations, Gen Z is the one with no right to complain about the lack of access to personal finance education in school. If any generation had a chance to teach themselves, it is them.
The Guardian
06-06-2025
- Business
- The Guardian
Gen Z in the US: tell us how you spend your money
When it comes to finances, gen Z has developed its own language from terms such as 'loud budgeting' (not being afraid to say you're being thrifty) and 'doom spending' (mindlessly spending money as a form of self-therapy). Whether you prefer 'soft spending' or 'cash stuffing', we're interested in finding out more about 18-to-28-year-olds and their finances. How much money do you earn and what are your spending habits like? Do you prefer to save or spend – or a balance of both? You can tell us what your finances are like and what you spend your money on by filling in the form below, or messaging us. Please include as much detail as possible Please note, the maximum file size is 5.7 MB. Your contact details are helpful so we can contact you for more information. They will only be seen by the Guardian. Your contact details are helpful so we can contact you for more information. They will only be seen by the Guardian. If you include other people's names please ask them first. Contact us on WhatsApp or Signal at +447766780300. For more information, please see our guidance on contacting us via WhatsApp, For true anonymity please use our SecureDrop service instead.
