Gen Z is adopting a soft saving approach, choosing memorable experiences over aggressive stockpiling for retirement. They average three leisure trips a year despite many earning less than $50,000 annually. A significant number have dedicated travel funds and leverage loyalty programs for cheaper trips. Young consumers like Sofia Qistina consciously prefer spending on experiences rather than material items, realizing that intentional budgeting enhances life enjoyment. This generation's financial habits reflect a focus on balanced living, where enjoyment does not come at the expense of debt or financial stability.
Many young consumers open dedicated travel or experience funds alongside their retirement savings, and use on loyalty programs such as credit card points to lower trip expenses.
I don't want to miss out on opportunities when I am young, but I also don't want to go into debt, said Sofia Qistina, 22, who stressed that she prefers to spend more on experience than material items.
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