Are you Centennial or G-Z?
Did you know that this generation is considered the most knowledgeable, including financial literacy? However, they’re also the ones putting their finances at greatest risk by following trends like:
Soft saving: This suggests that young people prioritize their current expenses for a comfortable life, rather than saving for the future.
Cash stuffing or saving cash in envelopes: who finds it attractive to save money in decorated envelopes rather than in bank accounts.
Loud budgeting: where young people publicly share their budgets and expenses, exposing the privacy of their finances.
Tips to avoid risking your money on social media trends.
- Be wary of any hashtag or trend that promises to make you money quickly and easily.
- Use hashtags wisely. Don’t be swayed by just the most popular ones; some lesser-known ones have more detailed and higher-quality content.
- Look for financial information and advice beyond what’s available on social media; prioritize more reliable information.
