I tried to stop being anxious about money. It completely backfired.
Gen Z faces financial anxiety despite early investing and saving efforts, feeling pressured by social media and economic challenges.
Gen Z, currently aged 14 to 29, is experiencing a financial "vibecession" despite having a solid foundation. They fear job loss due to AI, inability to buy homes, and financial struggles as they age. However, many Gen Z individuals are savers, starting their investments in their early 20s and surpassing the $100,000 savings milestone.
Despite these positive trends, a significant portion of Gen Z feels they are falling behind or will never achieve financial success. This anxiety is partly driven by inflated expectations fueled by social media, leading high-achieving young people to feel they will never be enough. Financial experts suggest that the pressure to save and maintain assets intensifies for higher earners, who often have more substantial expectations of success.
At the same time, younger Americans generally report higher stress levels due to factors like inflation, post-COVID effects, and healthcare challenges. Financial wellness experts recommend reevaluating personal goals and aligning them more authentically with one's values to alleviate money anxiety.
Written by urgent.news from Business Insider's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
