Fintech Takes
S8 E8: Money Talks: What do Gen Z and Boomers Hear?
Aug 28, 2024
Join fintech storyteller Mary Wisniewski, Editor-at-Large at Cornerstone Advisors, as she shares her insights on the financial habits of Gen Z. Discover how this generation is more anxious and transparent about money than ever before, heavily influenced by social media pressures. The discussion shifts to the rising emphasis on fintech solutions for the elderly, highlighting innovative tools aimed at preventing fraud and fostering security. Wisniewski also tackles the evolving nature of consumer trust in fintech and the need for personalized support across generations.
53:49
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Quick takeaways
- Gen Z's anxiety about finances stems from social media influences and the pressure to manage living costs effectively.
- Fintech companies must facilitate transparent and relatable money management conversations to better serve financially anxious younger consumers.
Deep dives
Understanding Gen Z's Financial Anxiety
Research on Gen Z reveals significant anxiety surrounding their financial situations, primarily due to their upbringing in a social media-dominated environment. Many young adults are increasingly aware of their finances, often feeling pressured to manage their paychecks carefully amidst rising costs of living. The study conducted by Cornerstone Advisors in collaboration with Fridge showcased video interviews where young consumers expressed their worries about money management, job security, and societal pressures. This generational anxiety contrasts sharply with earlier generations, who may not have been as financially aware at a similar age.
