gen z Archives — Beating Broke

11 Things Gen Z Can Teach Baby Boomers About Money

May 17, 2024 By Catherine Reed Leave a Comment

The generational exchange of knowledge is a powerful tool for innovation and adaptation. While Baby Boomers have a wealth of experience and knowledge, Gen Z is bringing new perspectives and strategies to the table, particularly when it comes to managing finances. Here are 11 financial insights that Gen Z can offer Baby Boomers, highlighting the fresh approaches and digital savvy of the youngest generation of adults.

1. The Importance of Financial Literacy

Gen Z values financial education and is more likely to seek information about finances early in life. They use online resources to understand investing, taxes, and debt management. Baby Boomers can be inspired by Gen Z’s proactive approach to become more financially literate and make informed decisions about their money.

2. Adopting Subscription-Based Services

Gen Z is adept at utilizing subscription-based services for managing regular expenses, from entertainment to software and even groceries. Baby Boomers can learn from this trend to streamline their expenses and enjoy the convenience of automatic renewals and deliveries. This approach not only helps in budget management but also ensures that they are only paying for what they truly need and use, potentially reducing wasteful spending.

3. Embracing Mobile Payment Systems

Gen Z is leading the way in adopting mobile payment systems like Apple Pay, Venmo, and Google Wallet, which offer convenience and reduce the need for carrying cash or physical credit cards. Baby Boomers can learn from Gen Z the benefits of using these platforms for everyday transactions, enhancing security and tracking spending more efficiently. This shift not only simplifies financial transactions but also integrates seamlessly with other financial management tools, promoting a streamlined approach to personal finance.

4. Flexible Earning Through the Gig Economy

The gig economy has expanded significantly, and Gen Z is at the forefront of utilizing platforms like Uber, Airbnb, and freelance job sites to generate additional income. Baby Boomers can learn from Gen Z about leveraging these platforms to supplement retirement income or to fund other interests and hobbies. This flexibility allows for better control over work hours and income levels, catering to personal schedules and needs.

5. Investing in Cryptocurrency

While Baby Boomers may be more cautious about new investment classes, Gen Z has been more open to investing in cryptocurrencies and other digital assets. They can offer insights into the risks and rewards of these newer financial instruments, providing a different perspective on diversification and the potential for returns.

6. Sustainability and Ethical Investing

Gen Z is particularly conscious of the impact of their money, showing a strong preference for sustainable and ethical investment opportunities. They can teach Baby Boomers how to invest in companies that are not only financially viable but also socially responsible, creating opportunities to align investments with personal values.

7. Minimalism and Financial Independence

Many in Gen Z advocate for minimalism in their lifestyles to achieve financial independence early, emphasizing the value of living with less to save more. They prioritize experiences over possessions, which can be a valuable lesson for Baby Boomers, especially those looking to downsize or simplify their lives in retirement. This shift towards minimalism not only helps reduce expenses but also focuses on what truly brings joy and fulfillment, encouraging a more intentional approach to spending and saving.

8. The Use of Social Media for Financial Advice

Gen Z often turns to social media platforms to gather financial advice and learn about personal finance and investing from peers and experts alike. Baby Boomers can benefit from understanding how platforms like YouTube, Instagram, or TikTok can be sources of financial education and community support.

9. Prioritizing Mental Health Over High Earnings

Gen Z places significant importance on mental health, often valuing it over high salaries. Essentially, work-life balance is always part of the equation with Gen Z, ensuring they don’t sacrifice too much in the name of money. This perspective can help Baby Boomers reassess their own work commitments and financial goals, emphasizing well-being alongside financial security.

10. Tech-Savvy Budgeting

Gen Z uses apps and software for budgeting that automate much of the process and provide insights into spending patterns. Baby Boomers can learn to use these tools to keep their finances in check and plan for future expenses more effectively. Plus, this strategy can help Baby Boomers reduce the amount of time they spend monitoring their financial situation, freeing up valuable space in their schedules.

11. The Acceptance of Non-Traditional Career Paths

Gen Z is more likely to pursue non-traditional career paths that align with their passions and interests, often incorporating multiple income streams. This approach can inspire Baby Boomers to explore different avenues for income in retirement, whether it’s turning a hobby into a business or monetizing a skillset.

Baby Boomers Can Learn from Gen Z’s Financial Strategies!

By embracing some of Gen Z’s innovative financial strategies and perspectives, Baby Boomers can enhance their financial management and potentially find new ways to enjoy their wealth. The exchange of knowledge across generations can lead to a fuller, more adaptive approach to money that benefits everyone involved.

8 Ways Life Was Tougher for Boomers Than Millennials and Gen Z

Catherine Reed

Catherine is a tech-savvy writer who has focused on the personal finance space for more than eight years. She has a Bachelor’s in Information Technology and enjoys showcasing how tech can simplify everyday personal finance tasks like budgeting, spending tracking, and planning for the future. Additionally, she’s explored the ins and outs of the world of side hustles and loves to share what she’s learned along the way. When she’s not working, you can find her relaxing at home in the Pacific Northwest with her two cats or enjoying a cup of coffee at her neighborhood cafe.

16 Old-Timey Phrases and Sayings That Would Sound Absurd to Gen Z Ears

April 12, 2024 By Catherine Reed Leave a Comment

Language is an ever-evolving tapestry, reflecting the changing times, technologies, and social norms. As Generation Z navigates a world of rapid digital communication, many old-timey phrases from the bygone eras sound increasingly alien. These phrases, once commonplace, now serve as linguistic relics, offering a glimpse into the past’s cultural and social landscape. Let’s dive into sixteen old-timey sayings that might perplex the Gen Z cohort, highlighting the rich tapestry of language and how it adapts over time.

1. “Don’t take any wooden nickels.”

This phrase, advising against being cheated or tricked, hails from a time when the authenticity of currency was a genuine concern. In today’s digital transaction era, the idea of wooden nickels is as quaint as the caution it implies, making it a prime example of old-timey phrases that have lost their immediate relevance.

2. “The bee’s knees.”

Used to describe something of excellent quality, “the bee’s knees” is a phrase that might leave Gen Z scratching their heads. The charming absurdity of envisioning bees with knees, let alone using them as a benchmark for excellence, underscores the whimsical nature of early 20th-century slang.

3. “23 skidoo.”

“23 skidoo” is one of those old-timey phrases that encapsulates the roaring twenties’ spirit, meaning to leave quickly or to be kicked out. In an age where “ghosting” is the vernacular for a swift exit, “23 skidoo” seems almost ceremoniously elaborate.

4. “Know your onions.”

Knowledgeable or well-informed individuals were once complimented for knowing their onions. While the origin of equating onions with wisdom is murky, the phrase’s quaintness is undeniable in an age where digital literacy is the new benchmark for being well-informed.

5. “Cat’s pajamas.”

Similar to “the bee’s knees,” “cat’s pajamas” is used to describe something splendid or stylish. The imagery of a cat in pajamas is amusingly out of place today, reflecting the whimsy of past slang.

6. “Put up your dukes.”

Inviting someone to fight by asking them to put up their dukes, where “dukes” refers to fists, feels out of step with contemporary conflict resolution’s emphasis on dialogue and understanding, making it a fascinating linguistic artifact.

7. “That’s the ticket.”

Used to express approval or that something is precisely what’s needed, “that’s the ticket” might sound overly formal or quaint in today’s more casual communicative landscape, where a simple “perfect” or “that’s it” suffices.

8. “Full tilt.”

Though “full tilt” is still understood to mean going at full speed or with maximum energy, the phrase has equestrian origins that are less relevant in the automobile and digital age, giving it an old-timey charm.

9. “Gee willikers!”

This exclamation of surprise or astonishment might draw blank stares from Gen Z, who might opt for a succinct “wow” or an emoji to express similar sentiments.

10. “Hotsy-totsy.”

Describing something as perfect or agreeable, “hotsy-totsy” might sound comically outdated to ears accustomed to “cool” or “awesome.”

11. “Malarkey.”

“Malarkey” refers to nonsense or misleading or insincere talk. While “malarkey” has seen a resurgence thanks to its use by certain public figures, its full-bodied roll-off-the-tongue quality feels out of place in the era of acronyms and text speak.

12. “Over the moon.”

While still used to express extreme happiness, the phrase “over the moon” conjures up more literal space-age imagery for Gen Z, who are used to hearing about actual space travel.

13. “Burning the midnight oil.”

In a world where work and leisure often blend seamlessly due to digital connectivity, the idea of “burning the midnight oil” to denote late-night work seems almost quaintly industrious.

14. “The whole nine yards.”

Though still in use, the exact origins of “the whole nine yards” are murky, and its use to mean “everything” or “all of it” can sound overly elaborate to a generation used to efficiency in language.

15. “Speak of the devil.”

While the phrase “speak of the devil” is understood when someone appears just as they’re being talked about, its superstitious undertones might seem odd in a more secular, rational age.

16. “More than you can shake a stick at.”

Used to indicate a large quantity or more than enough, this phrase’s rural, pastoral origins make it sound amusingly out of place in a digital, urbanized context.

How Younger Generations Can Appreciate Old-Timey Phrases and Sayings

These old-timey phrases are not just linguistic curiosities; they are a window into the past, revealing the values, humor, and peculiarities of bygone eras. For Gen Z, these expressions might seem quaint or absurd, but they also offer a rich linguistic heritage that continues to shape our evolving language landscape.

16 Changes in Childhood Play: From Baby Boomers to Today’s Kids

Catherine Reed

8 Ways Life Was Tougher for Boomers Than Millennials and Gen Z

April 5, 2024 By Catherine Reed 2 Comments

In the rapidly evolving landscape of societal norms and technological advancements, each generation faces its unique set of challenges. While it’s easy to spot the conveniences that modern technology has afforded Millennials and Gen Z, it’s equally crucial to recognize the aspects that made life tougher for Boomers. This comparison isn’t about belittling the struggles of any generation but rather shedding light on the distinct hardships that defined the Baby Boomer era. Here are eight ways life was tougher for Boomers than Millennials and Gen Z.

1. Limited Access to Information

For Boomers, the quest for information was a physical endeavor. Libraries and printed encyclopedias were the primary sources of knowledge, often leading to time-consuming research processes. The absence of the internet meant that accessing up-to-date information required more effort and resources, making life tougher for Boomers, especially in academic and professional settings. This limitation not only hindered quick learning but also made global connectivity a far-fetched dream compared to the instantaneous digital communications Millennials and Gen Z enjoy today.

2. Communication Constraints

Boomers didn’t have the luxury of instant messaging, emails, or social media platforms. Long-distance communication was a tedious and costly affair, often relying on mailed letters that took days or even weeks to reach their destination. Telephone calls, too, were expensive, particularly for international connections. This lack of instantaneous communication tools made maintaining relationships across distances tougher for Boomers, affecting both personal connections and international business relations.

3. Economic Volatility and Job Security

The economic landscape during the Boomer years was marked by significant fluctuations, including recessions and the oil crisis of the 1970s. Job security was a persistent concern, with industries undergoing substantial changes and layoffs being common. The absence of the gig economy and remote work options made it tougher for Boomers to adapt to economic downturns, often leading to prolonged periods of unemployment or the necessity to stick with unsatisfying jobs for stability.

4. Rigid Gender Roles and Social Expectations

Boomers grew up in an era where societal norms and gender roles were more rigid and defined. Women, in particular, faced considerable barriers in the workforce and were often expected to prioritize homemaking over professional ambitions. This rigidity made it tougher for Boomers to pursue unconventional paths or challenge the status quo, leading to a generation often caught between personal desires and societal expectations.

5. Health and Wellness Knowledge

Boomers navigated their formative years and adulthood with limited knowledge about health, wellness, and the importance of mental health. Awareness and understanding of conditions like depression, anxiety, and the benefits of a balanced diet and regular exercise evolved significantly only later. This lack of information made it tougher for Boomers to make informed health choices, often leading to lifestyle-related health issues that could have been mitigated with the knowledge available to younger generations.

6. Environmental and Safety Regulations

In the Boomer era, environmental and safety regulations were far less stringent than they are today. Workplace safety standards, environmental protections, and public health policies were still in their infancy, exposing Boomers to higher levels of pollutants, workplace accidents, and health risks. This lack of regulation not only made environments tougher for Boomers but also contributed to long-term health and ecological challenges.

7. Education and Career Flexibility

Educational and career paths for Boomers were often linear and limited. The concept of career switching or taking gap years was less accepted, compelling many to stick with their initial choices, regardless of their job satisfaction or changing interests. This lack of flexibility made it tougher for Boomers to explore different opportunities or pivot in their careers, often leading to unfulfilled professional lives.

8. Technological Adaptation

While technological advancements have significantly improved the quality of life, Boomers had to adapt to these changes later in life, often facing steep learning curves. From basic computer skills to navigating the internet and digital devices, the transition has been challenging for many. This ongoing process of adaptation has been tougher for Boomers, contrasting with the digital nativity of Millennials and Gen Z.

Acknowledging How Life Was Tougher for Boomers Than Millennials and Gen Z

In reflecting on these aspects, it’s clear that life was indeed tougher for Boomers in many respects. Understanding these challenges fosters empathy across generations and highlights the importance of learning from the past to build a more inclusive and accommodating future for all generations.

16 Changes in Childhood Play: From Baby Boomers to Today’s Kids

Catherine Reed