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Trends that are affecting Gen Z

Fintech edition (duh!) [This is all based off my observations of my peers and general consensus]

February 28, 2023

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  1. Increased interest in ethical investing ā†’ We are passionate about the environment and the social issues we face today, that we want our investments to match our values; hence we focus on sustainable investing. We are twice as likely as other generations to invest in companies that prioritize social and environmental responsibility. (Go šŸŒ!)

  2. We believe in financial education ā†’ Many of us are proactive about self-development and learning, we use online resources like Youtube, podcasts, social media platforms like Instagram, Tiktok and Snapchat to learn more about personal finance and investing.

  3. As go-getters, we are always on the move ā†’ We have a deep preference for our financial systems to be as mobile as we are. We are more likely to use financial services that are present on our mobile apps to manage our finances and investments. We prefer a more instantaneous, less frictional navigation like being able to use funds however we aim to use with a few taps of the button rather than visiting a physical branch or talking to customer service.

(Like how you can subscribe to my newsletter with just a tap of a button:)

  1.  Entrepreneurship-led mindset ā†’ With the explosion of A.I, no code tools, we are a generation instilled with massive creativity, and not content with traditional career paths. We are relying on our skills to create our own businesses or side-hustles leading to a desire for financial services that are flexible and supportive. We may use crowd-funding or peer-to-peer lending as a means of accessing capital.

  2. Focus on financial health and wellness ā†’ We care about our well-being and value self-care. We are more likely as a generation to prioritize our needs, financial stability and security and actively seek out resources that meet financial goals. This is leading to a trend in financial wellness and coaching services; e.g. budgeting, retirement investing or tracking credit score history.

If there is anything you think I should add or disagree with, please leave your thoughts below; I would love to hear them!