We’ve published a bunch of great articles in the past few weeks focused on Gen Z. But my most favorite one is about a 28-year-old who is using nearly $40,000 in savings to travel around the U.S. and cheer on England in the World Cup.
Could you drop everything and blow your cash cushion on a bucket-list experience? Why or why not? Write to me atonthemoney@thomsonreuters.com.
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Gen Z loves to talk about money. REUTERS/Jonathan Drake
Fewer young adults rely on family for financial help
Speaking of Gen Z, while fewer young adults ages 18-29 are relying on their parents for financial support, affordability issues are preventing them from fully launching into the next stage of their lives.
I spoke to Will Smayda, head of financial centers at Bank of America, about a recent survey on the money challenges of early adulthood. One of the most surprising data points is how willing members of Gen Z are to talk about their finances: 60% speak candidly about money with friends. And they even share why financial hardships prevent them from socializing with peers — a practice known as "loud budgeting.”
In addition, more than half of the Gen Z respondents (56%) are single, and of those, only 11% say they are actively dating — with over halfspending $0 a monthon a love life!
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