3 Things Boomers Say Gen Z Shouldn’t Buy
Written by
Cindy Lamothe
Edited by
Zuri Anderson
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If you’ve spent any time on TikTok lately, you’ve probably heard the latest financial hot take: Gen Z shouldn’t buy — whether it’s homes, cars or even that overpriced latte (okay, that one might be fair).
But beyond the buzz, what are the experts actually saying? Let’s break it down without the doom.
“Throughout my career building lending products and working directly with real estate investors, first-time buyers and young professionals stepping into major financial milestones, I have seen how early purchasing decisions can either strengthen someone’s long term financial position or quietly undermine it,” said Dennis Shirshikov, professor of finance at City University of New York and head of growth and engineering at GrowthLimit.
“From that perspective, and through thousands of borrower conversations, I can share insights that align closely with what many boomers advise younger generations to avoid as they begin building their financial lives.”
Skip the Top-Tier Model Just To Prove You’ve ‘Made It’
Steer clear of purchasing the priciest model just because it’s a sign of success, said Shirshikov.
“Boomers frequently advise Gen Z to resist the temptation to purchase obvious status symbols at a young age,” he noted. This could be an expensive vehicle, an opulent apartment or high-end products bought primarily for appearance.
“The timing is the issue, not the item itself,” he explained. “Cash flow flexibility is far more important in the early stages of a career or homeownership than achievement signaling.”
Gen Z can take chances, switch careers, relocate to a new city, or make large investments without being constrained by excessive obligations thanks to building optionality.
Be Cautious Financing Items That Lose Value Fast
Shirshikov also warned that you should exercise caution when financing lifestyle items that lose value right away.
“Financed purchases that lose value quickly are strongly discouraged by many boomers, especially when interest is added,” he warned.
High-end electronics, impulsive furniture purchases and hobby equipment that seems exciting at the time but seldom has lasting value are examples of this. To that end, he said money should be saved for items that increase in value, stabilize life or create new opportunities for income.
“Assets that either expand or provide value well beyond the payment schedule should be the only ones eligible for financing,” according to Shirshikov.
Alex Vasylenko, founder of Digital Business Card, advised the same.
“New cars are the first thing I tell Gen Z to avoid,” he said. “They cost a lot of money, lose value quickly and force you to pay more for insurance when you should be saving.”
For thousands less, he said you can get the same freedom with a model that hasn’t been used much.
Don’t Buy the Full Setup at Once — Build It Slowly and Intentionally
Lastly, Shirshikov suggested avoiding purchasing fully equipped setups all at once; instead, make deliberate, slow purchases. He noted there is frequent pressure to immediately have a home that is flawlessly furnished.
“Boomers usually advise against purchasing everything at once, particularly when using credit,” Shirshikov said.
A slower approach helps ensure that purchases meet long-term needs, lessens financial strain and prevents regret from purchasing low-quality, quickly-wearing items.
“Financial discipline is strengthened by spreading out purchases without compromising comfort,” Shirshikov concluded.
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