New National Study Finds Gen Z is Smarter with Money than Millennials

The Center for Generational Kinetics Releases “The State of Gen Z 2017”
Research Results

AUSTIN, Texas–(BUSINESS WIRE)–#GenZStudy–A new national study by The
Center for Generational Kinetics
found that Gen Z, ages 14-21, will
not be making the same financial mistakes as Millennials. The research
revealed that this group is a true “throwback generation,” already
working, saving money, and determined not to end up like Millennials. In
fact, 77% of Gen Z currently earn their own spending money through
freelance work, a part time job, or earned allowance. This is a
tremendously powerful finding, given that this is also true for about
the same percentage of Millennials surveyed, who are ten years older!

The research results are part of The Center’s “The
State of Gen Z 2017”
study which, in addition to discovering Gen Z’s
views toward money and spending, goes on to reveal insights into Gen Z
as consumers, shoppers, and brand trendsetters. The data found that
unlike previous generations, whose parents didn’t mention money or focus
on financial topics with their kids, 56% of Gen Z discussed saving money
with their parents in the past six months. The result is a young
generation that behaves more like Baby Boomers than Millennials and is
making plans to work during college, avoid personal debt at all costs,
and save for retirement. In fact, 12% are already saving for retirement,
and a significant 21% of this generation had a savings account before
the age of ten.

Jason Dorsey, President of the Center for Generational Kinetics and Gen
Z and Millennial expert, shares his insight, predicting that “Gen Z is
primed to become more influential than Millennials, and it’s happening
quickly. Their practical and fiscally conservative behavior is making
them part of businesses and our economy despite their young age. We’re
watching this generation closely at The Center and working to help
marketers, managers, and leaders start to understand them and adapt
accordingly.”

Visit http://genhq.com/gen-z-2017
to learn more and download the complete Gen
Z whitepaper
and an infographic.
Researchers Jason Dorsey and Denise Villa, Ph.D. are available for
comment.

The Center for Generational Kinetics is the #1 Millennial and Gen
Z research, speaking, and consulting firm. Their team of Ph.D.’s work
with more than 160 clients annually to solve tough generational
challenges through original research, on-site innovation, and consulting
solutions tied to measurable outcomes. The Center’s diverse clientele
ranges from global automakers and financial service pioneers to
retailers, CPG, private equity, and technology companies. The work of
The Center’s co-founders to explore, understand, and bridge different
generations has been featured in hundreds of media outlets around the
world, from 60 Minutes and the BBC to The Washington Post.
Learn more about The Center and access their team’s latest research at http://genhq.com.

Contacts

The Center for Generational Kinetics
Shannon Glover, 512-259-6877
Shannon@GenHQ.com