Gen Z Is The Most Materialistic Generation

The desire to easily afford material goods is driving 45% of Gen Z to achieve financial success. The figure comes from Bank of America's new Better Money Habits report that surveyed over 1,000 adults. In comparison, only 34% of millennials and 30% of Gen X and boomers feel similarly. However, the economic situation they find themselves in is making it hard for them to reach their goals. 73% of Gen Zers said that the economic climate has made it a challenge to save. ¾ are taking on side gigs in order to earn extra cash, and over ⅓ are considering career changes to help with their finances. But they aren't just doing it in order to buy luxury goods. ¾ of Gen Zers want to achieve "financial peace of mind."