Question of the Day: What was #1 response from Gen Zers when invited to an activity they could not afford?

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Jan 26, 2021
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Question of the Day, Behavioral Finance

Answer: 

Questions: 

  • What do you do in those situations when invited to an event you can’t afford?
  • Does your answer vary based on the situation? What would be the factors that play into your decision?
  • How do you think your parents would answer this question differently?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (NerdWallet):

Most of us have had to turn down activities we’d have liked to participate in for financial reasons, and Gen Z is no exception. More than 4 in 5 Gen Zers (83%) have been asked to do an activity they couldn’t afford. Among them, just over half (51%) told the person inviting them they couldn’t afford it and about a quarter (23%) made up a nonfinancial excuse not to go, but some decided to go anyway using savings (26%) or a credit card (17%).

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Did you miss NGPF's Best of 2020 lists posted in December? 

 

 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.