‘Expensive taste without the expenses’: Minimum wage worker wears Lululemon, Versace, Apple AirPods Max to work

At a time when the cost of living is increasing dramatically, young people seem to be spending their money on comforts and conveniences rather than saving for long-term financial goals.

This can take a few forms. For example, in a survey conducted on April 2023, over half of polled Gen Z members self-identified as “frequent leisure travelers,” taking three or more trips per year. Young people are also more likely to spend money on clothes and restaurant meals than their older counterparts.