How Gen Z Feels About Its Financial Future
From rising costs of living to the effects of the pandemic, Gen Z was hit by multiple crises as soon as they stepped into the workforce.
To start, the rising cost of education and the resultant soaring student debt has many Gen Zers questioning the value of post-secondary education. Meanwhile, the widespread layoffs and economic uncertainty have them worried about stable employment. In addition, anxiety around climate change is a very real factor affecting how younger generations view their future prospects.
A survey conducted by Morning Consult—visualized in the graphic above—found that while the Gen Z is feeling more uncertain about their financial future than ever, most believe that they will be financially better off than their parents, if not the same.
The table below highlights exactly how the Gen Z feels about its financial future.
|Gen Z Repondent Categories||Better off than parents||Same as parents||Worse off than parents|
Breaking the Narrative: Gen Z’s Optimism
Gen Z is an optimistic and driven generation. Many young people in this generational cohort are turning to entrepreneurship and side hustles as a way to supplement their income and build a brighter future.
So, when asked how they would fare financially when compared to their parents, it makes sense that 38% of the Gen Z youth surveyed by Morning Consult believed that they would be better off than their parents. 43% believed that their financial situation will remain the same and only 19% felt that they would be worse off.
Irrespective of gender and race, four in five Gen Zers said that they would be better off than their parents, if not the same.
So, while many of the stories we hear about the outlook for Gen Z are negatively framed, this generation is more optimistic and determined than one might expect.
Can You Calculate Your Daily Carbon Footprint?
Discover how the average person’s carbon footprint impacts the environment and learn how carbon credits can offset your carbon footprint.
Your Everyday Carbon Footprint
While many large businesses and countries have committed to net-zero goals, it is essential to acknowledge that your everyday activities also contribute to global emissions.
In this graphic, sponsored by Carbon Streaming Corporation, we will explore how the choices we make and the products we use have a profound impact on our carbon footprint.
Carbon Emissions by Activity
Here are some of the daily activities and products of the average person and their carbon footprint, according to Clever Carbon.
|Household Activities & Products||CO2 Emissions (g)|
|💡 Standard Light Bulb (100 watts, four hours)||172 g|
|📱 Mobile Phone Use (195 minutes per day)*||189 g|
|👕 Washing Machine (0.63 kWh)||275 g|
|🔥 Electric Oven (1.56 kWh)||675 g|
|♨️ Tumble Dryer (2.5 kWh)||1,000 g|
|🧻 Toilet Roll (2 ply)||1,300 g|
|🚿 Hot Shower (10 mins)||2,000 g|
|🚙 Daily Commute (one hour, by car)||3,360 g|
|🍽️ Average Daily Food Consumption (three meals of 600 calories)||4,500 g|
|*Phone use based on yearly use of 69kg per the source, Reboxed|
Your choice of transportation plays a crucial role in determining your carbon footprint. For instance, a 15 km daily commute to work on public transport generates an average of 1,464 g of CO₂ emissions. Compared to 3,360 g—twice the volume for a journey the same length by car.
By opting for more sustainable modes of transport, such as cycling, walking, or public transportation, you can significantly reduce your carbon footprint.
Addressing Your Carbon Footprint
One way to compensate for your emissions is by purchasing high-quality carbon credits.
Carbon credits are used to help fund projects that avoid, reduce or remove CO₂ emissions. This includes nature-based solutions such as reforestation and improved forest management, or technology-based solutions such as the production of biochar and carbon capture and storage (CCS).
While carbon credits offer a potential solution for individuals to help reduce global emissions, public awareness remains a significant challenge. A BCG-Patch survey revealed that only 34% of U.S. consumers are familiar with carbon credits, and only 3% have purchased them in the past.
About Carbon Streaming
By financing the creation or expansion of carbon projects, Carbon Streaming Corporation secures the rights to future carbon credits generated by these sustainable projects. You can then purchase these carbon credits to help fund climate solutions around the world and compensate for your own emissions.
Ready to get involved?
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