Are Gen Z really that bad with money?

Many publications and experts seem to obsess over Gen Z spending habits, often claiming that young people are more interested in Netflix and Starbucks than they are housing deposits. Is it all just heated conjecture, or is there some truth to these allegations of financial incompetence?

Financial struggle is a phenomena that most of us will be familiar with to some degree. While our economic backgrounds are often diverse and varied, nearly everyone has had a stressful period where cash is tighter than usual.

With bills seemingly set to spiral upwards indefinitely, it’s getting increasingly harder to save money, rake together a deposit, and climb onto the property ladder. With our budgets stretched thin, months or years of financial turbulence and worry are becoming more common and long-lasting, leaving plenty of Gen Zers nervous about their ability to look after themselves without support.

Is this new-age phenomena really the product of rising living costs, or is it the fault of Gen Zers and their spending habits? Answers range wildly from one extreme to the other, depending on who you ask or which social media platform you browse.