The movement of money in the younger generation or Gen Z currently tends to be influenced by technology and different consumption tendencies. They are more inclined to use digital payments, such as e-wallets or online debit cards, compared to previous generations who relied more on cash. Apart from that, investing in digital assets such as cryptocurrencies is also becoming increasingly popular among them. In general, Gen Z tends to be more open to risk and more active in looking for ways to manage and allocate their money.
Digital Payments**: Gen Z tends to avoid using cash and prefers to use digital payments such as e-wallets (for example, GoPay, OVO) or online debit cards. This is because of the ease, speed and comfort in transactions.
*Invest in Digital Assets**: Gen Z’s interest in cryptocurrencies is increasing. They see great potential in this investment even though it also carries high risks. Apart from cryptocurrencies, they are also interested in investing in stocks and ETFs (Exchange-Traded Funds).
Financial Awareness**: Although they tend to be open to risk in investing, Gen Z is also more aware of the importance of personal financial management. They actively use financial and technology applications to integrate spending, budgeting and savings planning.
*Prioritization of Experiences over Things**: This generation prefers to spend their money on experiences, such as travel, concerts, or social events, rather than buying material goods. This represents a shift in values from ownership of physical goods and experiences towards social relationships.
**Use of Influencers in Financial Decisions**: Gen Z often obtains financial information and tips through social media platforms and influencers. They are more likely to be influenced by the experiences and recommendations of others in making financial decisions.
Thus, the movement of money in the current younger generation or Gen Z shows a significant shift in the way they interact with money and technology, as well as the values they prioritize in managing their personal finances.
By: Asmara Pradita Adya Pramesti
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