Gen-Z Shoppers Think Using Cash Doesn’t Count As Spending

Generation Z are those born between 1996 and 2010. Their identity has been shaped by the digital age and a shifting financial landscape, which could be why they believe that using cash doesn’t count as spending money and anything under $5 is essentially free. Gen Zer McKenna says that she makes money on anything she returns. “If I buy something but then return it, I made money. Going to an event or concert is free because I purchased the tickets so long ago it doesn’t even count.” Samantha Jane says that if she buys something for $50 and then buys something else for $100, it actually only costs her $50. Asia commented, “If I put $25 in the pocket of my jacket and forget about it, and then months later I put my jacket on and find $25 in my pocket, I’ve made money.” It’s not only Gen Z women who are doing these strange math calculations. Josh says he spent $400 on a bike, so if he rides the bike 400 times, it only costs him $1 to ride. So, if he rides the bike at least 4,000 times, he’s riding for a dime. Stacy Francis, President and CEO of financial advisory firm Francis Financial says Gen Z concepts have become trendy, but they’re simply not true. “When you’re spending small amounts like $5, your brain doesn’t register that it could be a lot of money, even though in reality $5 a day is $1,825 a year.” Gen Zer Marley said, "If I buy a skirt, and then I return the skirt because it doesn't fit or something, that money that I get from the return is like free money.” Her father responded, “No. Then you could do that 1,000 times, and then you'd have 1,000 skirts worth of free money, which isn't real.” No matter how you look at it, psychological justification is what Generation Z is using to help ease the pain they’re facing at the cash register. Meanwhile, Boomers everywhere are shaking their heads in disbelief.