Gen Z is rebelling against the economy with 'disillusionomics,' tackling near 6-figure debt by turning life into a giant list of income streams | Fortune

"Gen Zers average $94,101 in personal debt, the highest of any generation and far more than millennials ($59,181) and Gen X ($53,255)."

"Alice Lassman describes Gen Z's approach to economic life as 'disillusionomics,' a way to cope with an uncertain and mystifying financial future."

"Lassman believes much of the way people relate to her generation is connected to this underlying economic phenomenon."

Gen Z, influenced by the Great Recession and its aftermath, exhibits distinct economic behaviors compared to millennials. Known as 'doom spenders,' they prioritize experiences over savings, contributing to a 'YOLO economy.' With an average personal debt of $94,101, they surpass previous generations. This financial outlook is characterized by a term called 'disillusionomics,' coined by economist Alice Lassman, reflecting a coping mechanism for navigating an uncertain economic landscape. Gen Z's approach signifies a broader trend of rejecting conventional financial wisdom.

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