10 Tips For Generation Z To Have A Better Financial Future

Generation Z is now in grade school, college, and just entering the workforce. Born between 1995-and 2010,

This generational group’s views of money and how to tackle their finances will differ from Millennials. Their experiences and tech prowess will inform how they save, spend, handle debt and credit, retirement, and other investments.

1. Have A Sound Financial Plan

Gen Zers are aware of the impact that the severe recession and massive student debt have had on the Millennials. Gen Zers aim to be more frugal and avoid debt.

2) Savings and Spending

According to the 2018 EVERFI report on Gen Z, 90% of those surveyed had transactional bank accounts, including checking accounts, but only 60% were personal accounts.

3) Need An Emergency Fund

When saving, you need to put aside at least six months of living expenses for emergency funds for those uncertain times when you may experience unforeseen expenses.

4) Avoid Impulsive Shopping

Gen Zers should avoid becoming impulsive shoppers. While their parents and friends are influential, they access informative data to get more valuable deals.

5) Spend Within Their Means 6) Handle Credit And Debt With Good Habits 7) Have A Plan In Place To Use Debt Sparingly 8) Preference For Digital Payments Over Traditional Credit Cards