To Gen Z, social media is not just a tool for entertainment. To them, social media is their guidance in life when it comes to things like finances. With just a swipe, they’re picking up viral trends and flipping them into money-saving strategies that keep their wallets happy.
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As the cost of living keeps climbing, this tech-savvy generation isn’t just keeping up–they’re finding creative ways to spend less while still living well. From swapping clothes to hacking grocery bills with TikTok meal-prep challenges, Gen Z is proving that smart spending doesn’t mean sacrificing style or experience.
Financial expert Tim Maurer sums it up best: Gen Z is a sharp, financially aware group that refuses to spend carelessly. Every dollar matters to them, and they’re making moves to cut unnecessary costs while still enjoying life.
Let’s break it down.
Their budget-conscious mindset is especially clear when it comes to fashion. Even though the fashion industry is worth over $105 billion, Gen Z people have shown that trendy doesn’t have to mean expensive.
Instead of buying expensive, short-lived trends, Gen Z is opting for second-hand clothes. Vinted, Depop, and Poshmark are currently popular marketing apps for second-hand clothes.
Unlike the older generations, they have normalized buying second-hand and even made it stylish to do so. It is trendy to shop from these apps because they flood social media with phrases like “Come thrifting with me” or “thrift hauls.”
Apart from thrifting, this generation is engaged in clothes swapping — a very budget-friendly option popularized through social media. The younger generation exchanges clothes instead of buying new ones, cutting costs on clothing by attending organized swap events.
Another thing they do is upcycling, which is turning old clothes into fresh, trendy outfits. Forbes contributor Maeve Campbell says it’s best — they express individuality without touching their wallets. Some popular hashtags attracting millions and advancing this trend are #Upcycling and #ThriftFlip.
Another popular trend among Gen Z in fashion is capsule wardrobes. Inspired by minimalist lifestyles, this young generation believes in owning a few but high-quality pieces of clothing. They are inspired by their attitudes of effortless mixing and matching of clothes.
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Gen Z is also opting to cook more instead of going out. For a long time, going for a meal and meeting a friend for tea or coffee in an overpriced café was trendy, but Gen Z people are turning away from this.
A survey conducted by Fortune showed that more than 70% of Gen Zs prefer cooking and eating at home to going to fast foods, high-end cafes, and hotels.
Home cooking is steadily becoming appealing with the influence of TikTok meal prep challenges. Gen Z constantly shares creative ways of preparing affordable, delicious and healthy meals.
Gen Z has created a new social media movement called a budget-friendly grocery shopping spree. The hashtags that characterize this movement are #CheapEats and #GroceryHacks. These hashtags showcase food purchasing strategies like buying in bulk, shopping at discount retailers, and using digital coupons.
Moreover, Gen Zs have a DIY coffee brewing movement that has gained momentum lately. This saves a lot of money in the long run, especially compared to spending $5 per day on coffee.
When it comes to travelling, Gez Z considers cheaper means of transport to be adventurous, a sharp contrast to that of the other generations. They prefer biking, walking, or taking public transport instead of owning private cars or travelling luxuriously.
Social media makes budget-friendly travel trendy because people enjoy documenting and sharing their journeys in videos and pictures.
Another affordable approach this generation has embraced is work-exchange programs. For instance, Work Away and World Packers have programs that allow people to travel and stay in a different country. In return, they pay with their labor.
Gen Z is also starting to use travel credit card rewards to pay for flights and hotels, which also reduces travel expenses.
One thing that stands out is that this generation is the hustle. They consider the traditional 9-to-5 employment unappealing. And more and more are embracing flexible working hours and multiple sources of income.
Moreover, they are taking advantage of technological advancements. They use technology to monetize their skills through social media and other online platforms. More and more Gen Z people are selling products online and working as writers, graphic designers, and social media managers.
Content creation is now a new and popular means of earning income among Gen Zs. CNET discovered that over 44% of Gen Zs earn money through online content creation. The group has learned to have different sources of income.
And for a stable income, many Gen Zs do not rely on a single employer. Gen Z prefers working online as contract workers and freelancers. The gig economy is very popular among young adults today.
The rest of society should see that Gen Z’s revolutionized approach to work is not only financially advantageous. This working style gives them authority over work-life balance and ensures that they have a constant flow of income from many sources.
Gen Z has mastered the art of having fun without breaking the bank on entertainment. Most Gen Z people share family accounts instead of spending money on paying for multiple streaming services simultaneously. More and more people are using free alternatives like Pluto TV or YouTube to get entertained.
At the same time, they also cut costs through DIY movie nights, board game nights, and potluck dinners.
Since social media is their primary tool, digital platforms like TikTok and Pinterest are often full of budget-friendly party ideas. Note that sharing information is their tradition.
Keeping up with what is posted on social media helps them know places to enjoy free entertainment. You can easily find free events on these platforms, like community activities, concerts, and museum admissions. They enjoy themselves fully in these free events, proving that a vibrant social life is possible without financial constraints.
Gen Z is cutting costs on wellness without compromising on self-care. Instead of expensive skincare products, they’re embracing DIY skincare using natural ingredients.
Home workouts are the “thing” for Gen Z as well. Instead of paying to go to the gym, people prefer using YouTube fitness programs. Sometimes, they share workouts on their social media accounts. Apps like Nike Training Club are “a must-have.”
For those who want to use technology, bodyweight exercises, dance workouts, and popular yoga programs are available on TV, the internet, and social media.
Financial literacy isn’t just a skill — it’s a priority. However, rather than sitting through seminars and workshops, Gen Z is learning money management through TikTok and YouTube influencers.
This generation is also starting to use tools to help them save and budget. An example of this is micro-investment apps like Acorns, which allow you to invest small amounts over time.
The major takeaway from this generation is the need for a paradigm shift. The change in mindset allows them to look at things differently from older generations. They embraced responsible spending, tracked expenses, and valued experience over material possessions.
Gen Z has proved that one can achieve financial stability and live a quality life with little income. One can make wise financial decisions by taking advantage of social media and scaling down.
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This article originally appeared on GOBankingRates.com: 7 Ways Gen Z Is Turning Social Media Trends Into Smart Finance Choices
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