Sneakers, Concerts, and iPhones: Inside Gen Z’s Financial Choices | The Quint

India’s Gen Z is a mystery for any economist. They make less money in real inflation-adjusted terms than the previous generation, the millennials, but they spend much more on consumption and experiences than any other generation did. While their parents saved to build assets, Gen Z has very little savings. In fact, they often have huge amounts of debt—credit card payments that they have rolled over, or personal loans they have taken—without a concrete plan on how to pay them back. The reason for this can be encapsulated in one term: Financial Nihilism. In a brand-new episode of 'Caught in the Middle', senior business journalist Aunindyo Chakravarty explains why Gen Zs don't believe in conventional financial wisdom, instead choosing to learn everything about investments from Instagram influencers. Watch the video to know more. From exposing misinformation to delivering impactful human rights reporting, our newsroom has relentlessly pursued stories that drive change. We remain committed to asking the tough questions — and we'd love for you to be a part of our journey. Become The Quint’s member and make your support count: https://bit.ly/4j8x6uy For more videos, subscribe to our YouTube channel: https://bit.ly/4gIyCln --------------------------------------------------------------- Visit our website for more stories: https://www.thequint.com Check out our Special Projects: https://www.thequint.com/special-projects Subscribe to The Quint’s exclusive newsletters: https://thequint.substack.com/ --------------------------------------------------------------- Follow elsewhere: » Join us on WhatsApp: https://whatsapp.com/channel/0029Va5ysvjAe5VqBKRhgv2G » Instagram: https://www.instagram.com/thequint/ » LinkedIn: https://in.linkedin.com/company/thequint » Twitter: https://x.com/TheQuint » Facebook: https://www.facebook.com/quintillion/ --------------------------------------------------------------- Video: The Quint