Generation Z is talking about their finances. For a long time, it was an unwritten rule that one should not do this. However, the current situation is increasingly leading young people to discuss finances and share them publicly.
One does not talk about their salary. This was long considered an unwritten rule among Boomers, but also among the later Generation X. Silence was agreed upon regarding one’s own salary, and it was not discussed or mentioned to anyone.
However, this is changing now. Young people are increasingly demanding transparency and openness when it comes to money and finances. In doing so, they are breaking a rule that Boomers have adhered to for years.
Young people talk openly about their finances because they are under financial pressure
Generation Z is a generation that is under significant financial pressure: high living costs, uncertainties in the job market, and generally low incomes concern many young people.
Many are now making financial conversations public, talking with friends about it, or sharing it through social media.
Mary Julia Koch, deputy editor at the “Wall Street Journal”, explained in the FOX Business show “Varney & Co”, that young people are already dealing more openly with their lives. So, it is only the next step that they would also openly show their finances:
I believe my generation deals more openly with everything. I mean, we grew up posting things online – our relationships, our friendships, our student life. It makes sense that this is sort of the next frontier where people document their budgets and financial lives.
A certain awareness is a positive development, especially in an economy that feels very uncertain while young people are entering a job market that could be disrupted by the prospect of AI.
And the numbers speak for themselves. According to a study by StepstoneGroup, 74% of those under 30 openly discuss their salary. For older respondents, the willingness to talk about their own salary decreases significantly.
Do you also talk openly about your salary, or do you prefer to hold back when discussing it with friends or family?
When it comes to money or earning money, Generation Z is quite inventive: earning professionally through letters and postcards, because Generation Z is doing just that. Behind it is a new trend that has largely emerged through social media: Snail Mail: Generation Z has found a new way to earn money: they send letters and postcards
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