YouthSight eBook - Banking on the next generation
Gen Z's attitudes to money and how you should react
Gen Z's attitudes to money and how you should react
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Young people are blaming cashless<br />
payments as <strong>the</strong>y end up spending more<br />
<strong>on</strong> nights out and at festivals than <strong>the</strong>y<br />
had planned. This suggests that <strong>the</strong> lack<br />
of physical cash makes it hard for Gen Z<br />
to keep track of spending. In fact, 1 in 5<br />
say having cash <strong>on</strong> <strong>the</strong>m makes <strong>the</strong>m<br />
spend less m<strong>on</strong>ey.<br />
But <strong>the</strong> slow decline of physical<br />
m<strong>on</strong>ey doesn’t mean that young people<br />
can’t budget. A wave of new banking<br />
apps are challenging <strong>the</strong> traditi<strong>on</strong>al<br />
financial landscape to help Gen Z better<br />
manage <strong>the</strong>ir m<strong>on</strong>ey <strong>on</strong> a daily basis…<br />
14<br />
Source: <str<strong>on</strong>g>YouthSight</str<strong>on</strong>g> x Link (2016) (N=492)
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