Gen Z is rebelling against the economy with ‘disillusionomics,’ tackling near 6-figure debt by turning life into a giant list of income streams
Fortune••business
Key Points:
- As the oldest Gen Zers near 30, their economic habits differ significantly from previous generations, characterized by high personal debt averaging $94,101, far exceeding millennials and Gen X.
- Economist Alice Lassman describes Gen Z’s economic behavior as "disillusionomics," reflecting their coping mechanism amid ongoing financial uncertainty and skepticism about traditional economic systems.
- Gen Z shows a rejection of conventional financial prudence, with many doubting they will achieve traditional milestones like homeownership, and instead embracing alternative income sources such as "house hacking" and content creation.
- Despite high income growth, Gen Z spends less overall and prioritizes value, sustainability, and longevity, often opting for cheaper alternatives or "dupes" over luxury goods.
