Most people enter adulthood feeling broke and spending frugally. Not Gen Z. Spending by the youngest group of US adults has been turbocharged by two once-in-a-generation drivers over the past year: decades-high inflation and a tight job market that has propelled strong wage growth, especially at entry levels. A boost in savings from forced inactivity at the height of the pandemic also helped.
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Gen Z spending gets supercharged by inflation and wage growth
“Things that are tied to memories or that are like paying for a memory — I'll spend the money on it,” King said, citing events like bachelorette parties and weddings. “That's worth it."
