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Why do Millennials and Generation Z see no point in saving?

What is happening to young people?

Photo: Envato

Young people nowadays go through many problems and turbulences that can last for a long period of their lives, because in some countries there is a recession, a pandemic and even a state of war. In such times, the question arises of what and how to plan, i.e. how to think about the future.

On this topic, a survey was conducted between 2600 adults, which showed that 45 % people, old from 18 to 35 years, sees no point in saving until everything returns to normal. The big question is what this usually means, because a part of generation Z actually did not experience the beginning of adult life in the conditions that everyone else is used to, but were immediately hit by various disasters, especially of a financial nature.


Millennials and generation Z are perhaps most affected by the coronavirus pandemic, especially when it comes to mental health. This is because they had fewer moments of well-being and carefree functioning compared to Generation X and Boomers, which also affected their motivation to plan. Therefore, many of them decide not to save for the future, but to satisfy their current needs according to the possibilities - travel, shopping, gastronomic pleasures...

On top of that, they are here climate change and constant warnings about environmental pollution, which further adds to the image apocalyptic world. When someone is not sure what awaits him in the future, or hardly believes in it at all, he turns to the present and to the famous "living in the moment". This does not mean that members of other generations do not have a similar attitude, they are simply at a different point in their lives compared to millennials and generation Z, but you still need to understand that everyone has to satisfy themselves in the way that is most convenient for them.

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