Younger Australians are embracing the joy of missing out as financial anxiety takes its toll
- jamessnow321
- Dec 17, 2019
- 1 min read
Financial anxiety is keeping close to half of Australians up at night with generations Z and Y feeling it the most.
More than 55 per cent of Generation Y and 64 per cent of Gen Z worry daily about money, and more than 60 per cent feel anxious about their financial future, according to the latest Choosi Dollar report.
This anxiety has led the younger generations to become the most likely to have savings goals with over 80 per cent admitting to having a savings goal, well above the 65 per cent of Baby Boomers who have the same aim.
For many, the only way to get ahead is through sacrifice, and that means embracing the joy of missing out or JOMO.
Sixty-nine per cent of Generation Z have cut back on “guilty pleasures” like eating out and entertainment in a bid to save money.
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