Gen Z finds saving is pointless, so they’ve turned to doomspending instead

Two people sitting in a room dealing while a leak is dripping into a bucket. (Credit: Getty Images)

With the U.S. facing political turmoil, economic uncertainty, and growing social media addiction, it’s no surprise that consumers are “doomspending” rather than saving money. A recent survey bears out the trend, finding that 47% of Gen Z respondents did not have an emergency fund.

“It makes sense that they feel this way, given the economic setbacks of the last few years,” says Bobbi Rebell, CFP, a personal finance expert at CardRates.com.