{"id":4577,"date":"2018-06-07T16:06:05","date_gmt":"2018-06-07T16:06:05","guid":{"rendered":"https:\/\/genhq.com\/?p=4577"},"modified":"2022-07-23T07:47:08","modified_gmt":"2022-07-23T07:47:08","slug":"gen-z-spending-habits","status":"publish","type":"post","link":"https:\/\/genhq.com\/gen-z-spending-habits\/","title":{"rendered":"Gen Z\u2019s Curious Spending Habits"},"content":{"rendered":"<p>If you think that today\u2019s teenagers are still Millennials, you\u2019d be wrong. The oldest Millennials are now well into their late thirties and today\u2019s teenagers are Generation Z. Growing up in a post-9\/11 society, Gen Z is shaping up to be very different from Millennials. And as the oldest are now graduating college, they\u2019re starting to exercise their spending power and they\u2019ve got very unique spending habits.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-4579\" src=\"https:\/\/genhq.com\/wp-content\/uploads\/2018\/06\/resave-3.gif\" alt=\"\" width=\"870\" height=\"500\" \/><\/p>\n<h4>What is Gen Z spending money on?<\/h4>\n<p>According to a <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.vice.com\/en_ca\/article\/d3kd7q\/we-asked-gen-z-about-their-spending-habits\" target=\"_blank\" rel=\"noopener\">recent Vice article<\/a><\/span> that interviewed seven different <span style=\"text-decoration: underline;\"><a href=\"\/gen-z\/\" rel=\"noopener\">Gen Zers<\/a><\/span>, the most common \u201cnon-essential\u201d \u00a0these teens spend money on is food, particularly eating out and trying new restaurants. One respondent said that he budgets $100 a week on eating out, but often surpasses his budget and spends upwards of $120 per week.<\/p>\n<p>Additionally, several said \u00a0they consider it \u201cworth it\u201d to spend money on their friends. Most of them cited <strong><em>skincare products<\/em><\/strong> as a major expense in their lives \u2013 even more than healthcare.<\/p>\n<h4>Gen Z wants to own rather than rent.<\/h4>\n<p>Unlike their Millennial predecessors who rely on renting their homes and using services like Uber and Lyft, MediaPost found that Gen Z has a sense of pride in ownership.<\/p>\n<p>Referencing the <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.mediapost.com\/publications\/article\/314842\/spending-habits-of-gen-z-they-like-to-own-stuff.html\" target=\"_blank\" rel=\"noopener\">Gen Z Automotive Study<\/a>,<\/span> 92% of Gen Z owns or plans to own a vehicle. They are also prepared to sacrifice. Gen Z is willing to give up social media (72%), new clothes (63%) and their cell phone (33%) if it means owning a car.<\/p>\n<p>Similarly, a recent <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.zillow.com\/report\/2017\/highlights\/introducing-generation-z\/\" target=\"_blank\" rel=\"noopener\">Zillow Housing Aspirations Report<\/a><\/span> found that Gen Z desires to own a home, despite the fact that most of them aren\u2019t even old enough to rent a place by themselves. The report found that 57% of Gen Z renters would consider buying instead of renting, even though the median household income for Gen Z renters is $27,827, with 44% making less than $25,000.<\/p>\n<p>It will be interesting to see what happens when the bulk of <a href=\"\/what-does-gen-z-value-in-the-workplace\/\" rel=\"noopener\"><span style=\"text-decoration: underline;\">Gen Z enters the workforce<\/span><\/a> in a few years and gain spending power. Will they turn their aspirations to own homes and cars into reality, or will they fall victim to the same financial holes that tripped up the Millennial generation? Only time will tell.<\/p>\n<h4>Solve Your Gen Z Challenges with Custom Generational Research<\/h4>\n<p>We lead national and international Gen Z and <a href=\"\/how-is-generations-research-different-from-market-research\/\" rel=\"noopener\">generational studies<\/a> for our clients every day. We also keynote events around the world, helping businesses better understand their customers and workforce.<\/p>\n<p>Let us know how we can help you.\u00a0<span style=\"text-decoration: underline;\"><a href=\"\/contact\/\" rel=\"noopener\">Send us an email<\/a><\/span>\u00a0or give us a call and we\u2019ll be happy to provide a little information for you to review.<\/p>\n<p>Keep the conversation going, follow The Center on Instagram\u00a0<span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.instagram.com\/thegenhq\/\" target=\"_blank\" rel=\"noopener\">@TheGenHQ<\/a><\/span>\u00a0or on Twitter\u00a0<span style=\"text-decoration: underline;\"><a href=\"https:\/\/twitter.com\/GenHQ\" target=\"_blank\" rel=\"noopener\">@GenHQ<\/a><\/span>. We are passionate about sharing our latest generational discoveries!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you think that today\u2019s teenagers are still Millennials, you\u2019d be wrong. The oldest Millennials are now well into their late thirties and today\u2019s teenagers are Generation Z. Growing up in a post-9\/11 society, Gen Z is shaping up to be very different from Millennials. And as the oldest are now graduating college, they\u2019re starting [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":4579,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16,21,1],"tags":[],"class_list":["post-4577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-igen-and-gen-z","category-selling-and-marketing","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gen Z\u2019s Curious Spending Habits - The Center For Generational Kinetics<\/title>\n<meta name=\"description\" content=\"If you think that today\u2019s teenagers are still Millennials, you\u2019d be wrong. The oldest Millennials are now well into their late thirties and today\u2019s teenagers are Generation Z. And as the oldest are now graduating college, they\u2019re starting to exercise their spending power and they\u2019ve got very unique spending habits.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/genhq.com\/gen-z-spending-habits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gen Z\u2019s Curious Spending Habits - The Center For Generational Kinetics\" \/>\n<meta property=\"og:description\" content=\"If you think that today\u2019s teenagers are still Millennials, you\u2019d be wrong. The oldest Millennials are now well into their late thirties and today\u2019s teenagers are Generation Z. And as the oldest are now graduating college, they\u2019re starting to exercise their spending power and they\u2019ve got very unique spending habits.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/genhq.com\/gen-z-spending-habits\/\" \/>\n<meta property=\"og:site_name\" content=\"The Center For Generational Kinetics\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-07T16:06:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-23T07:47:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/genhq.com\/wp-content\/uploads\/2018\/06\/resave-3.gif\" \/>\n\t<meta property=\"og:image:width\" content=\"870\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/gif\" \/>\n<meta name=\"author\" content=\"Team CGK\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Team CGK\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/genhq.com\\\/gen-z-spending-habits\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/genhq.com\\\/gen-z-spending-habits\\\/\"},\"author\":{\"name\":\"Team CGK\",\"@id\":\"https:\\\/\\\/genhq.com\\\/#\\\/schema\\\/person\\\/e4249435a9371efe9f97374b6f915e6e\"},\"headline\":\"Gen Z\u2019s Curious Spending Habits\",\"datePublished\":\"2018-06-07T16:06:05+00:00\",\"dateModified\":\"2022-07-23T07:47:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/genhq.com\\\/gen-z-spending-habits\\\/\"},\"wordCount\":461,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/genhq.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/genhq.com\\\/gen-z-spending-habits\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/genhq.com\\\/wp-content\\\/uploads\\\/2018\\\/06\\\/resave-3.gif\",\"articleSection\":[\"iGen \\\/ Gen Z\",\"Selling &amp; Marketing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/genhq.com\\\/gen-z-spending-habits\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/genhq.com\\\/gen-z-spending-habits\\\/\",\"url\":\"https:\\\/\\\/genhq.com\\\/gen-z-spending-habits\\\/\",\"name\":\"Gen Z\u2019s Curious Spending Habits - The Center For Generational Kinetics\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/genhq.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/genhq.com\\\/gen-z-spending-habits\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/genhq.com\\\/gen-z-spending-habits\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/genhq.com\\\/wp-content\\\/uploads\\\/2018\\\/06\\\/resave-3.gif\",\"datePublished\":\"2018-06-07T16:06:05+00:00\",\"dateModified\":\"2022-07-23T07:47:08+00:00\",\"description\":\"If you think that today\u2019s teenagers are still Millennials, you\u2019d be wrong. 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