Fashion Forward Financial Tips: What We Can Learn from Gen Z
5 Money-Savvy Lessons We Can Learn From Gen Z
Financial Lessons from Gen Z
We all know Gen Z is like the trendsetting guru of fashion, pop culture, and basically everything else. I mean, without them, we might not have discovered that baggy jeans are totally in, or learned the lingo of phrases like “it’s giving”. Let’s face it, as millennials, we may be a little older, but that doesn’t always mean we’re wiser, especially when it comes to our finances. Lucky for us, there’s always something new to learn, and who better to show us the way than our Gen Z comrades?
A recent survey conducted by financial institution SoFi reveals that Gen Z is actually more financially savvy than we give them credit for. In fact, 21% of them have declared making money as their ultimate ambition. But it doesn’t just stop there, they have some pretty genius tactics up their sleeves too. So, let’s dive into five financial tips we can actually learn from Gen Z, and maybe, just maybe, level up our financial game.
Hustle Like a Girlboss – With a Side Hustle
While the soft life trend may be going viral on TikTok, Gen Z hasn’t thrown out the girlboss culture completely. In fact, a different study reports that a whopping 43% of Gen Zers have a side hustle on top of their full-time careers. Meanwhile, only 33% of millennials can claim the same. So, whether you’re looking to pay off that pesky credit card debt or add a little extra cash to your savings account, consider embracing the side hustle grind. From taking online surveys to selling your clothes on Poshmark, there are plenty of easy ways to make some extra dough. Who knew making money could be so trendy?
Manifest Moolah like a Gen Z Pro
Now, I know manifestation might sound a bit woo-woo for some, but Gen Z is totally on board with this trend. They are more likely than any other generation to use affirmations to make their dreams come true. And hey, it might just work! With a few mindset tweaks, you can set yourself up for financial success. So, why not give it a shot? Start by improving your relationship with money through practices like money journaling, where you can reflect, plan, and affirm your way to a better financial future. Trust me, the universe will appreciate your effort.
Retire Fabulously Early
Gen Z might be the youngest in the workforce, but they are already scheming about retirement. In fact, a whopping 37% of them aspire to retire before the age of 50. Sounds like a plan we can all get behind! So, if you haven’t already started saving for your golden years, now is the time. Look into retirement plans like a 401(k) if your job offers one, or use an online retirement calculator to figure out your monthly savings goal. And here’s a pro tip: create a separate savings account specifically for retirement, so you won’t be tempted to dip into that money. And remember, a high-yield savings account will be your new best friend. Cha-ching!
Forget Takeout – There’s Food at Home!
We all love treating ourselves to a little snack or meal while we’re out and about. But those small purchases can really add up. Gen Z knows this struggle all too well, which is why 43% of them have started cooking more at home to save some serious dough. You don’t have to be a master chef to do the same! With one-pan recipes featuring your Trader Joe’s favorites or Sunday meal prepping sessions, saving money has never tasted so good. Plus, those occasional dinners out will feel even more special when they’re not an everyday occurrence. Bon appétit!
The Do’s and Don’ts of Family Planning
Besides retirement, Gen Z is already thinking about their future family plans. They’re concerned about the financial aspect of starting a family in a paycheck-to-paycheck world. Well, kudos to them for seriously considering all the angles! And guess what? It’s never too early to start thinking about what you want when it comes to your own little bundles of joy. Whether you’re dating, engaged, or already married, sit down with your partner and have a heart-to-heart about your family goals. Do you need to start saving up now? Are you even interested in having children? Remember, there are no right or wrong answers, just make sure you’re making the best decision for yourselves and adapting your finances accordingly.
So, my fellow fashionistas and finance fanatics, let’s take a bow to Gen Z for showing us the way. From hustling like a boss to manifesting our financial dreams, there’s so much we can learn from these trendsetting Gen Zers. Let’s buckle up, learn from their wisdom, and start slaying the fashion and finance game together!
What’s your favorite financial tip from Gen Z? Let us know in the comments below!✨🛍️💰
