Many feel frustrated by a tough job market and worried about debt, experts said.
Gen Z seems to have a case of economic malaise.
Nearly half (49%) of its adult members — the oldest of whom are in their late 20s — say planning for the future feels “pointless,” according to a recent Credit Karma poll.
A freewheeling attitude toward summer spending has taken root among young adults who feel financial “despair” and “hopelessness,” said Courtney Alev, a consumer financial advocate at Credit Karma.
They think, “What’s the point when it comes to saving for the future?” Alev said.
Their share of disposable income is incredibly low. Picture someone 40 years ago with a much higher percentage of disposable income, of course they would be more into saving…they were able to save AND actually buy stuff once in a while. Gen Z has the option of saving OR paying rent.