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Today’s kids have started to look at money differently!

How are today’s kids faring?

Are they doing good?

Are they studying well?

What are their future plans?

What big financial decisions will they make?

How good will be their take on personal finances, as they start to earn?

These questions make up most of the tensions, today’s parents have about their kids. But, among all, one thought or worry seems to really take away a good night’s sleep.

It’s none other than how well can these kids handle money!?

Lots of parents complain or enter into group discussions with teachers at school, about spending behaviors, that the kids showcase these days. They are worried because they believe the fast-paced life, fuelled by technology, is eating up the small heads.

But, I would say hold on! Things may be far more different with these kids, about what they think of money when you start to walk in their shoes. And, by kids, I seriously don’t mean 1st graders!! I very much mean the current youth, as there are surely still kids to us!

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What makes kids born in the late 90s and early 2000s moneywise different, from the past generations?

Definitely, we are talking of millennials and Generation Z here, their relationship with money, why most of them have a low-grade personal finance situation, and what keeps them diverted moneywise from the past generations.

“Time took its toll”, is the one line reckless answer I can give. But if you want to go deep, then you will have to understand a huge number of different aspects.

Those of us, born in the range of 60s to 80s, are mostly fathers and mothers of the booming millennial and Gen Z era. We have endured quite a few number of family responsibilities. We suffered civil wars and grew up in the middle of tensions and crises.

Probably these things toughened us a bit, and we started to take things more seriously than ever.

But, such is not the case with our children. The millennials and Gen Zs came to a world of financially stable families and parents.
The present youth grew up in the technology explosion, that pioneered in computers, smartphones, world-changing operating systems, and most notably an environment of software and IT startups!
They are born with the mentality of ‘chill factor’ and don’t love to go into arguments, debates, and pointless jabbering of responsibilities. They vision a unified society, just like few people in the 70s and 80s did. Those were namely John Lennon, Jack Kerouac, the beat generation poets and all.
These kids believe that money is important only to a materialistic level, but nothing close to emotional. But, only because these kids are giving minimal importance to money, doesn’t mean they are gone wrong. It's just they don’t want war and fights!

So, one got to understand that the whole world is different for this present youth, and their look at money is vastly different, than those coming of age.

# Millennials and Generation Z, spend more money on technology:

This is probably the iconic driving factor that steers the spending habits of the youth. Millennials love to spend money on new experimental gadgets that hit the market! And, to our astonishment, Generation Z is not a single step behind.

It’s like you can say, Gen Z and millennials are in a perfect competition, of who has the best gadget in the room!

Nearly every single person, belonging to these two generations, has at least one electronic communication device. And, God, they are really smart with these touch screens and bezels, I tell you!!

These young men believe technology to be an intellectual debt or a type of investment, you can say.

Have you really taken a wider look at the new smartphones being launched each year? These are way more than phones, and approximately equivalent to futuristic computation.

Social media and internet presence are very well understood by the Millennials and Gen Zs. More than 90% of the total new generation, have online activity every day.

That’s how they are moving, man!

You might say, but they don’t have any social life, buddy!!??

Well, you are wrong! Because you can’t adjust to the new social life that humans are fitting into. It’s internet and social media man!!

# As of income, these youths are finding different modes of earning:

You will never imagine the number of searches that go on the internet regarding - how to earn money as a kid, or best jobs suitable for kids!

These folks are smart and we need to admit that fact. Most of the Gen Zs want to do something on their own, rather than getting employed under ‘the employer’.

They show the interest in earning money since childhood, and many consider school and college education to be a bit stereotypical!

The same thing is happening with the millennials too. They are also aspiring to become self-employed and entrepreneurs, rather than getting an oldie day time job.

With the convenience of world communication, delivered by the internet, these young minds are searching for lucrative ways to earn money.

You just don’t know, one might get hold of website development, one might run an online shoe store, earning way more than we can imagine, while some might open up chains of cafeterias that give coffee at half the price of Starbucks - yet tastier!

# But, what about debts, properties, and investments? Are Millennials and Gen Zs smart at these?

Now, this is a very critical topic to discuss. Debt has been a big part of our country’s economy since ages. The lost generation had it, the silent generation had it, and so did the baby boomers and the Gen Xrs. So, why take only Millennials and Gen Z into account?

Still, I can say that the millennial and Gen Z’s take on debts and investments is also quite different.

Most of them blink to become homeowners before reaching their mid-thirties. They consider an evolutionary gadget to be an investment, since a better device guarantees better opportunities to do something creative.

They are also becoming aware of credit card debts and other consumer debts day by day. But, the problem seriously lies with millennials. They are very bad users of credit and eventually many fall into debts.
But, they are trying really hard to get out of debt, and you will get to know it if you participate in our forums!

Many millennials are also trying alternate investments, like cryptocurrencies, corporate bonds, and shares!

We can definitely dream of a better future, as both millennials and Gen Zs have the capability to become something larger than life.

They are intelligent and well educated! They are dreamers and they have the thirst for knowledge as much as a human being must have.

And, I want to end this by saying, they are perfect to continue the continuity of human civilization!

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