Half of Gen Zers say they don’t see a point in saving money until things return to 'normal' — instead they're investing in themselves. Here's what that looks like

Money Wise ^ | 12.29.22 | Serah Louis

[EBH]

Ahmed says the COVID-19 pandemic showed plenty of young people how quickly their “normal” can be stolen away — so she has prioritized making up for those missed years with exciting experiences and good memories.

With all the economic uncertainty going on right now, many young folks may be seeking some sort of control, says Lauryn Williams, a certified financial planner and founder of Worth Winning, a company that helps young professionals organize their finances.

She points to stubborn inflation — the consumer price index was a distressing 7.1% in November — and stock market volatility. Americans are facing financial strain due to rising housing and grocery costs. It's also difficult to put faith in the stock market, which has seen some significant ups and downs this year.

Williams said a client recently told her,“I don't want to lose anything else, I feel like I'm losing money all the time.” That may lead to people holding onto their cash or putting their money into things they can control — even if it’s not the most strategic way to spend their money.

If they’re feeling uncertain about the future, Williams suggests young people consider investing in themselves and their professional growth — like starting their own businesses or furthering their education.

That’s exactly what Ahmed has planned. A first year student at University of Virginia,she intends to major in commerce with a concentration on information tech and management. And she’s mulled starting her own business as well.

Right now, when she’s looking at which degree to pursue and even which classes she’ll take, she wants to make sure they’re ones that will give her a “high return on investment” at the end of it.

“It's like, you make yourself better so that you can make more money in the long run.”

[Drago]

Negative real rates of return encourage spending...not saving.

https://www.digitaljournal.com/pr/higher-interest-rates-versus-inflation-negative-real-rates-of-return-increase

[1Old Pro]

Paying $20 for a cold hamburger to be delivered via grub hub is not exactly investing in yourself.

[joma89]

The Gen Z useful idiots will be waiting for a long time.

[Migraine]

To paraphrase: “Bootstraps, pull thyselves up”.

[Scrambler Bob]

Except it feels like for every two dollars I am saving today, they are worth one tomorrow.

[Scrambler Bob]

Apparently her parent(s) never had her read
The Ant and the Grasshopper
Book by Aesop
= = =

Ants and grasshoppers are the new food.

[Vigilanteman]

Another reason why the institution of marriage is important-having two people to bounce things off each other results in getting things done.

Exactly correct which, as my Freeper page states, is why the left's war on the family must necessarily include a war on traditional marriage.

This is why the left works endlessly to make Sodomite marriage (and all the perverse variations) equivalent to traditional marriage and defined all the dysfunctional forms of family as equivalent to traditional family.

[MCF]

“The US Dollar. It is just as hard to save one in 1974, 1999, or 2022.”
The thing with saving money now is, unless you are earning 8% or greater on your savings your losing value. In the 1970’s, when inflation started to ramp up, a Money Market deposit would eventually pay 10% or more. Now it’s not even 2%.

[rlmorel]

Exactly. Great post.

[EBH]

The other half of that is people have lost trust in the banks. Or they have a better understanding that the bank is not your friend.

High interest rates
High penalties
High fee’s
Low savings rates

There is no incentive other than the bank is a conduit to pay bills. And they see everything else as a losing gamble too.

[Organic Panic]

I see her point. After 15 years of struggling and building a very comfortable business the government shut down the world wide economy and wiped out everything I built. Savings to cover (no loans) expenses and pay vendors, gone. Customers were wiped out and many closed. Real inflation for materials over 100% higher. Diesel fuel up nearly 3 times. No way I am rebuilding what I had, at my age, just so the government, under this disgusting pervert democrat party, can wipe it all out again. I am looking in to digital nomad visas around the world and plan to make just enough to not pay any US taxes and going back in to all computer based engineering work and hit the road with a laptop. Of course we’ll see how that goes with the marxist jerks forcing “vaccine” passports on the world.