4 Ways of Financial Management for Gen Z

Nowaday, we are living in a world that is surrounded by e-commerce and social media which arouse us to spend money all the time. Especially for Gen Z people who have just started working. They might have some questions about how to manage their money or can they stabilize themselves.  Today ACU has some information for Gen Z people

What is Gen Z?

Gen Z people are now the first-jobber who were born between 1997 – 2012


Gen Z people were born with the developed technology which is fast and concise. There are many Search Engines to search for information in a short time such as the Internet and Smartphone. Also, there are social media such as LINE, IG, Tiktok, Twitter, and Facebook. They are the main group that shape Google Trend and Hashtags on Twitter and they tend to spend a lot of time on the online world. 

Financial Challenges for Gen Z

Gen Z has the advantage of being able to use a wide range of technologies and be as fast in searching for information as other people can’t keep up. However, it is so challenging for Gen Z in terms of finance because they are moved by e-commerce and social media to spend money all the time until there is a saying that “You can spend all your salary just lying in bed.”

Also, Gen Z people have to face high competition in the working world. It is hard to get a job and the chance to grow in the position is not as much as the state enterprise or large private company era which were a chance for the former generations. The fast moving world makes the instability in career higher. The information has become outdated faster. That’s why a financial plan is important to do at an early age. Most importantly, Gen Z people often have few siblings. Many are single children. Some may choose not to marry.Even if they marry, they may choose to have few children or no children at all. Therefore, it is necessary to be self-sufficient when they reach old age.

Tips to manage money

  • Can save money: Remember to Saving before Spending at least 10%. If you have a lot of expenses, you can save as much as you can. You need to build a mindset that you have to save money first. One day when you earn more money, you can save more money as well.
  • Can wisely use: As mentioned before, you need to think carefully before spending money. You have to differentiate which is necessary, which may be necessary and which is not necessary.
  • Can make money: People with specialized careers may directly expand their expertise in that field, such as doctors, lawyers, engineers, to get higher salaries, higher professional fees, and more consultants, etc.It may enhance management skills to increase career advancement opportunities in working organizations, or “make many ways to make money.” The advantage is that we get more skills from the secondary profession, because in the future it may extend the core profession that we are working on.
  • Can do more investment: In the age of finding a new job, question yourself about which investment is good to make more money. Try investing in assets for work such as cars. However, buy it only if it is necessary. If it is not that necessary, do not buy it because there is maintenance cost that follows. Assets for making money such as Fixed deposits, stocks, funds, bonds are good too but you need to be careful and study before investing. The higher return, the higher the risk. Gen Z people need to be patient because we are young and can stay in the stock market for a long time, starting with low-value stocks. Let’s take a look at this and continue to build on that. This may be the main channel of income growth in the future.


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