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Insight of the Day: Spend like there’s no tomorrow: How Gen Z’s nihilism is changing their approach to money

The article discusses how Gen Z's approach to money and spending has been influenced by the unique challenges and circumstances they face, including pandemics, financial unrest, and climate crisis. The current generation is characterized by a sense of nihilism and a desire to live in the moment, leading many to spend money without much thought for the future. This behavior is reflected in the trend of instant gratification and indulgences seen on platforms like TikTok.

Gen Z's spending habits are driven by the belief that traditional milestones like home ownership and financial stability may be out of reach for them, so they choose to prioritize immediate pleasures and experiences instead. Many young people are not actively saving at the moment, opting instead for what is referred to as 'shibal biyong' or a 'fuck-it expense'.

The article suggests that this trend should not be seen as reckless entitlement but rather as a response to the challenges and uncertainties that this generation faces. Gen Z's relationship with money reflects a collective sense of nihilism and a desire to find moments of joy and happiness in an otherwise uncertain world.

Overall, Gen Z's approach to spending money is seen as a reflection of their desire to make the best of the circumstances they have inherited, even if it means prioritizing short-term gratification over long-term financial planning. The article emphasizes the need to understand and acknowledge the unique challenges that Gen Z faces and the ways in which they are reshaping traditional notions of adulthood and financial responsibility.

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