Generation Z: The Future of Finances
Everything Gen Z needs to know about money — and how they’re shaping money for everyone else.
Surprising Ways Gen Z and Millennials Are Worlds Apart Financially
In a study titled "The Pandemic's Perfect Storm," Georgetown University's McDonough School of Business chronicled the financial struggles that millennials (born between 1981-1996) and the oldest Gen Zers (1997-2012) endured together. Both demographics have been disproportionately likely to apply for government benefits, both have been forced to put off saving money and paying down debt and both tend to be falsely confident about their own parents' abilities to support themselves in retirement. Check Out: 10 Things You Always (and Never) Should Buy at the Dollar StoreRead: How To Get Rich With a Normal Job Also, both groups encountered stumbling blocks right out…
Getting To Know Gen Z
DEBT, INVESTING & MORE
SPENDING & SAVING
Save For Your Future
FINANCIAL TIPS & TRICKS
I’m Renting for the First Time Since COVID-19 Began — Here’s What I Wish I Had Known
When COVID-19 hit the U.S., I was one of many 20-somethings who moved back home. Little did I know I'd stay there for nearly two years as the country grappled with wave after wave of COVID surges, and I grappled with pandemic depression. (Not to be confused with pandemic fatigue. COVID-19 depression and anxiety has its own page on Johns Hopkins.) 2022 Financial Forecast: Will Rents Go Down Anytime Soon?Check Out: The Pros and Cons of Living at Home vs. Moving Out In January, I finally rejoined the droves of hopeful renters searching for a good deal. I signed up…
Teaching Your Gen Z Kids About Money: The Top 10 Things To Know
There's not much you can teach Generation Z that they can't find out themselves. They are digital natives, after all — with YouTube, TikTok, Instagram and more, there's an answer around every corner. However, who is giving the advice could mean the difference between teaching your child to fish and them being catfished by a fake financial pro online. Find Out: Should You Pay For Your Kid's College? Experts Weigh In Look: The Hidden Costs of Education at Every Level To help navigate these waters, GOBankingRates put together the top 10 things Gen Z should know about money. 1. Learn the…
How To Become Financially Independent: What It Means and How To Start
If you want to retire early to do some traveling or to spend quality time with your family, you'll need to create a plan that will result in you becoming financially independent. Staying out of debt and building your net worth are two actions that can help you gain financial independence and increase your chances of successfully retiring early. Gaining financial stability requires patience — you need to learn how to effectively manage your money and create passive income streams. Here are the retirement strategies you need to achieve financial independence. Learn: 27 Best Strategies To Get the Most Out…
The Worst Personal Finance Advice on TikTok (and Why It’s Wrong)
TikTok isn't just about viral dance videos. It has quickly become a popular resource for personal finance advice — but unfortunately, not all of it is good. While there are some legitimate money experts on the app, there is a lot of financial advice floating around on TikTok that is misleading or just plain wrong. GOBankingRates asked personal finance experts to debunk some of the worst money advice on TikTok — so if you see any of this pop up on your #fyp, keep on scrolling. See: TikTok Influencers Are Paid More Than CEOs — But Which Is the Better Long-Term…
How To Balance a Checkbook Digitally — and Why You Should
When we think about personal finance, we often consider budgeting or investing, but we don't necessarily think about balancing a checkbook. Perhaps that is because paper checks are less common than they used to be. But there are other ways to keep track of what you spend. Learn: How To Get Into the Habit of Saving Money Read: 21 Budgeting Tips for College Students In other words, there are more options other than writing your check balances in the back of a checkbook. These days, you can do things digitally instead. Thus, you may not actually be keeping track of paper…
How To Remove Your Parent From Your Bank Accounts
As a child, you probably marched into your first bank with a parent, the contents of your piggy bank or the $50 check that grandma sent you for your birthday in your pocket to use to open your first savings account. You walked out so proud to have achieved this rite of passage — your very own account with your very own money in it. Budget: 35 Useless Expenses You Need To Slash From Your Budget Now Smart Banking: 11 Best Options for Free Checking With No Minimum Balance Since minors generally can't open savings accounts, a parent or guardian…
Gen Z in the Workforce
Facts About Gen Z
Generation Z refers to the generation born between 1997-2012, following millennials.
Gen Z makes up 20% of the US population (per Statista).
By 2025, Gen Z will make up about 27% of the workforce (per Forbes).
60% of Gen Zers want a job that will impact the world (per Adrenalin Media).
But work-life balance is Gen Z’s top job priority, according to a new survey by GOBankingRates.
10 Most Promising Careers for Gen Z Workers
For today's Generation Z workforce, endless job possibilities exist. When their grandparents were asked, "What do you want to be when you grow up?", their answers didn't vary much. Teacher. Doctor. Firefighter. Careers along those lines. Check Out: The 10 Best Stocks for the Gen Z Investor Read: 4 Industries Gen Z Might Save — and 4 It Might Destroy But thanks to technological advancements in everything from streaming services to solar power, Gen Zers have a lot more jobs open to them. And their priorities are different, too, when it comes to work. The 2021 Gen Z Spotlight Report from the…
Gen Z & Millennials Would Rather Be Unemployed Than Unhappy at Work
More than half of employees (56%) age 18 to 24, a demographic classified as Gen Z, say they would quit a job that prevented them from enjoying their lives, a new survey suggests. Forty percent of this demographic said they would "rather be unemployed than unhappy working in a job they didn't like," according to the 2022 Randstad Workmonitor report. The survey polled 35,000 employees across 34 markets and showed dramatically changing attitudes in the workplace — potentially sparked by the pandemic — as exemplified by The Great Resignation. Discover: 5 Best Foods To Buy in Bulk at Costco This…
How To Write a Good Resume With No Experience
When applying for jobs, your resume is the first impression you make to recruiters and hiring managers. But how do you create an impressive resume when you're applying for your first job? Related: Is Your Resume Up To Par With the Competition? Jobs: 20 Jobs Where You Can Make $60,000 Out of College GOBankingRates spoke with professional resume writers and other career experts to get their best advice for writing a resume when you have no work experience yet. Make the Most of the 'Education' Section "Because you don't have much work experience, hiring managers will pay close attention to your…
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Save For Your Future
The Cost of Higher Education
The Most Unusual Scholarships and Education Grants To Help You Pay For School
The thought of the cost of attending college is daunting, whether you're a parent or a student. According to the College Board, costs of tuition in 2020-21 ranged from an average of $10,650 a year for a public, four-year in-state college to $37,650 for a private nonprofit four-year college. Worth Reading: Explore the Cost of Education in the United States Find Out: Can You Afford Education in America at These Prices? But don't let the sticker shock and the thought of paying student loans for years discourage you. These days, scholarships exist for just about everything and anyone; you don't…
Why Technical School Might Be the Best Education Move for Your Financial Future
With the cost of college — and student loans — continuing to rise, you may be considering alternatives. Average tuition, room and board for a private four-year college was $50,770 for the 2020-21 school year, according to the College Board, and $22,180 for public in-state four-year colleges. And that's just for one of the four years before graduation. Depending on your major — and the economy in your area — it could be years before your earnings can make that expensive degree worthwhile. Take a Look: Explore the Cost of Education in the United States Helpful: 94 Money-Making Skills You Can…
The Hidden Costs of Education at Every Level
It's expensive to raise a kid — and you may not realize how much you're paying in extra education expenses at every age, too. Whether you send your child to public or private school, there are a lot of additional costs that creep up and can quickly add hundreds of dollars to your budget — and even more as your kids get older. When your children reach college, be prepared for thousands of dollars in hidden costs beyond the already massive bills for tuition, room and board. Here's how to prepare for these extra costs of education at every age….
Should Teens Contribute To Saving for Education?
Wrangling with student loan debt is one of the most significant economic struggles in the U.S. Americans owe over $1.71 trillion in student loan debt across 44.7 million borrowers. Though President Joe Biden has made promises to reduce that debt, it surely won't be eliminated altogether, and we can expect the problem of mounting student loan debt to continue. Is College Really Worth It?: A Look at the Grim Reality for Student Loan Borrowers Find Out: Which Degrees Are Still Worth the Investment? With this in mind, parents may be wondering, should their kids start working as teenagers to contribute…
Why Is the American Education System So Expensive?
No matter what kind of education you're seeking as an American student, there's no denying that it's expensive. From preschool to college, families and students everywhere are having to shoulder ever-increasing costs just to have access to education. Take a Look: Explore the Cost of Education in the United States Discover: What It Really Costs To Attend America's Top 50 Colleges But why is an American education so expensive, and why do costs keep increasing each year with no relief in sight? To answer these questions, here's insight gathered from industry experts as well as information from some of the latest research…
How To Save Money on Your Apartment Hunt: A Guide for College and Post-Graduate Students
According to a report from Finances Online, just 22% of college students in the U.S. live in on-campus housing. About the same, 23%, live in purpose-built off-campus housing. The largest percentage by far — more than half at 55% — are renters. Check Out: 35 Surprising Cities With Low Costs of Living See: The Cost To Own a 3-Bedroom Home in Every State That means that a whole lot of college students are competing for the same apartments and houses — and today, they're doing it in one of the tightest and most expensive rental markets in recent memory. GOBankingRates…
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