Share this graphic on your site!<a href=”https://www.ravereviews.org/gen-z-financial-fears/”><img src=”https://www.ravereviews.org/wp-content/uploads/2018/10/gen-z-financial-fears.png” alt=”Gen-Z Financial Fears” width=”500″ border=”0″ /></a><br />Source: <a href=”https://www.ravereviews.org/”>Rave Reviews</a><br />How Gen Z Is Confronting Their Financial FearsThe rising post-Millennial generation known as Gen Z (b. ~1997-present*) will make up 40% of consumers by 2020―and their attitude toward finances is unlike any generation beforeEducation: An End to a Financial Means75% of Gen Zers say college isn’t the only path to a good educationGen Z after high school graduation 82% are planning to go directly to college 77% are considering a 4-year university 39% are considering community college 22% are interested in trade or technical schoolJob preparation is the point of college 88% of 2017 graduates, the first Gen Z graduating class, chose their major with job availability in mindTop expected career paths: Medicine/health care: 39% Sciences: 20% Biology/biotechnology: 18% Business/corporate: 17%Top reasons Gen Zers choose a school: Career Preparation Interesting Coursework Professors devoted to student successLearning from their Elders: Student Loan DebtMillennials save 15% more than Gen Z Yet they have 169% more debtGen Zers fear taking on debt for education Would take student loans 2016: 21% 2017: 11% Would possibly take on student loan debt 2016: 71% 2017: 63% Are already planning on taking on student loan debt 2016: 56% 2017: 49%Gen Zers plan to save as much money as possible during college 66% plan to attend in-state in order to save on tuition 19% plan to live at home or commute to save on living expensesGen Zers watched their Gen X parents’ median net worth fall by 45% during the Great Recession―now, they want degrees and jobs that offer securityEmployment: A Stable, High-Income LifeWilling to work hard for a stable incomeRecent Gen Z college grads 75% are willing to relocate to another state for a job offer 58% are willing to work evenings and weekends 78% have completed an internship or apprenticeshipTake on extra income through gigs and part time work 77% earn extra money through freelance work, a part-time job, or an earned allowance 35% of Gen Z students say they already own their own business or plan on owning one in the futureLearning from their Elders: Social MediaGen Z watched Millennials share every aspect of their lives and suffer professionally every time a potential employer did a Google searchGen Zers may access social media more… Gen Zers check social media up to 100X per dayDaily mobile internet use Gen Z: 4 hours Millennials: 3 hours…But they’ve learned to share less 87% of Gen Z say that keeping their posts private is more important than likes and shares 66% of Gen Z have adjusted their privacy settingsWomen have adjusted them 10% more than men 55% don’t like things to last forever online and they would rather be “anonymous than vocal” 76% believe people share too much about themselvesSaving: A Smart, Frugal Strategy89% of Gen Zers say planning for their financial future makes them feel empowered 64% have already begun researching on their own or talking to others about financial planning Average age Gen Zers start researching financial planning: 13Gen Zers already own: 60% Savings account 54% Checking account 33% Health insurance 32% Credit cardLearning from their Elders: Overspending40% of Millennials have overspent or gone into debt just to keep up with their social livesGen Zers think their purchases through 72% of Gen Zers say that cost is the most important factor when making a purchase 47% use their phones in-store to check prices and ask family and friends for adviceGen Zers have a spending power of between $29 billion and $143 billion―and they’re ready to spend it their waySources: http://www.pewresearch.org/fact-tank/2018/03/01/defining-generations-where-millennials-end-and-post-millennials-begin/ http://www.magazine.org/sites/default/files/Generation%20Z%20Unique%20and%20Powerful%20Whitepaper.pdf https://www.slideshare.net/sparksandhoney/gen-z-2025-the-final-generation-preview/12-GEN_Z_2025Instilled_with_a https://next.bncollege.com/wp-content/uploads/2017/06/15-BNCB-GenZ-Research-Report_v4.pdf https://www.accenture.com/us-en/insight-gen-z-rising https://www.nshss.org/media/30882/nshss-2018-careersurveyv6b.pdf https://pressroom.aboutschwab.com/press-release/corporate-and-financial-news/despite-good-intentions-millennials-and-gen-z-are-demonst https://www.collegesavingsfoundation.org/press-releases/gen-zs-are-pragmatic-planners-for-higher-education/ https://www.nitrocollege.com/blog/how-gen-z-is-managing-student-loan-debt https://www.pewtrusts.org/~/media/legacy/uploadedfiles/pcs_assets/2013/empretirementv4051013finalforwebpdf.pdf https://genhq.com/wp-content/uploads/2017/04/The-State-of-Gen-Z-2017-White-Paper-c-2017-The-Center-for-Generational-Kinetics.pdf http://www.mbuy.com/blog/snapshot-of-gen-z https://jaywing.com/news/z-5-privacy http://time.com/1150/oversharenting-backlash-gen-zs-quest-for-online-anonymity/ https://newsroom.lfg.com/press-release/corporate/thought-leaders-outline-actions-designed-increase-financial-literacy-enhance https://drive.google.com/file/d/0B1Axm9XHqBDgek10eTBkb3BKb051R3U4aXZKd0d0NjRzVEZB/view https://www.creditkarma.com/insights/i/fomo-spending-affects-one-in-four-millennials/ https://nrf.com/research/what-do-gen-z-shoppers-really-want http://www.millennialmarketing.com/2017/12/the-real-figure-of-gen-z-direct-spending-hint-its-bigger-than-you-think/