Spoiler alert: PYMNTS Intelligence’s new report is titled “Why 60% of Gen Z's raw salary salary” make important discoveries. Six out of 10 Gen Z consumers say they have difficulty making ends meet.
report, which one was Base of A survey of 3,405 U.S. consumers found that many Gen Z consumers (those born between 1997 and 2006) appear to be having a hard time in the current economy. Ta.
Or is it? Are their situations that different from those facing the average consumer? PYMNTS Intelligence finds that 58% of all U.S. consumers are currently living paycheck to paycheck. and 59% of Gen Z say they face the same challenges.
In other words, Gen Z consumers are more or less aligned with their older peers. exclude, Unlike many other consumers we surveyed, we found that half of Gen Z consumers live in a home where they pay no rent or mortgage at all.
How can we do so much, given our economic advantage? Of these Do you think they struggle to live within their means? One possible answer may be that Gen Z consumers are splurging on unnecessary purchases. this This is not judgmental, but what Gen Z respondents told us. is more than One-third of Gen Z respondents admitted that splurging is a major cause of financial hardship.
no one is denying It's easy to be a young person in a very unstable economy. Most Gen Z consumers work in roles it is You'll be at the forefront of career paths, including service jobs, retail jobs, and entry-level professional jobs. Many are also trying to juggle school demands.
10% of baby boomers and seniors, 16% of Gen , 34% of Gen Z consumers said the same.
And while a majority of Millennials and Bridge Millennials say dependent expenses, high debt, and events that deplete savings also contribute to their financial insecurity, Gen Z consumers are facing a decline. finance responsibility.
As PYMNTS' Karen Webster reminded readers earlier this month, generation z They are America's consumers, and within six years they will make up one-third of the U.S. workforce. Given this pressing reality and economic cushion, so many young people now Now may be an ideal time for Gen Z consumers to start saving and saving, as it frees them from the burden of rent or mortgage. Prioritize your financial health.
