A new generation is fighting back against inflation with ‘revenge saving.’
The economic pressures of inflation and a precarious job market have pushed millennials and Gen Z to a breaking point, but they are fighting back with a new financial mindset: “revenge saving.” This isn’t just about being frugal; it’s a form of conscious rebellion against a system that feels fundamentally unfair. It’s a way to reclaim a sense of control over their financial futures, taking a stand against a world that has devalued their money and their labor.
This generation is choosing to make deliberate and often difficult sacrifices, cutting out small luxuries and big expenses to build a financial cushion. This shift in mindset is not just about saving for a rainy day; it’s about saving for a better future, a way to build a life that feels stable and secure in a world that often feels chaotic. It is a powerful form of self-care, a way to take back control of their lives.
1. Ditching the desire for ‘keeping up with the Joneses’ is a key strategy.
The pressure to “keep up with the Joneses,” a cultural norm that has long been a source of financial stress, is being rejected by millennials and Gen Z. They are choosing to opt out of the constant cycle of consumerism, prioritizing their savings over the need to buy the latest gadgets or fashion trends. This is a clear signal that they are valuing financial freedom and security over social status and external validation.
This shift in mindset is a powerful form of rebellion against a culture that has devalued their money and their labor. They are choosing to define success on their own terms, where a healthy savings account is more important than a new car or a big house. This is a clear signal that they are taking back control of their financial futures, building a life that is based on their own values, not on the expectations of others.
2. They are embracing the side hustle as a financial tool.
The side hustle, once a way to make a little extra cash, has become a core part of the “revenge saving” mindset. Millennials and Gen Z are embracing gig work, freelancing, and entrepreneurship as a way to supplement their income and accelerate their savings. This is a clear signal that they are not content to rely on a single, stagnant paycheck, but are taking matters into their own hands to build a more secure future.
This embracing of the side hustle is a powerful form of rebellion against a system that has not provided them with a living wage. They are choosing to work harder and longer, not just to survive, but to thrive. This is a clear signal that they are taking back control of their financial futures, building a life that is based on their own values, not on the expectations of others.
3. They are prioritizing investing in themselves and their future.
Millennials and Gen Z are prioritizing investing in themselves, from learning new skills to starting a business. This is a clear signal that they are not just saving for a rainy day but are investing in a better future, a way to build a life that is stable and secure in a world that often feels chaotic. They are choosing to use their money to create a better life for themselves, not just to survive.
This shift in mindset is a powerful form of rebellion against a system that has not provided them with a clear path to success. They are choosing to be proactive about their futures, taking on the responsibility of their own financial planning. This is a clear signal that they are taking back control of their financial futures, building a life that is based on their own values, not on the expectations of others.
4. They are ditching expensive social habits for cheaper alternatives.
The pressure to attend expensive social events, like dinners out or bar nights, is being rejected by millennials and Gen Z. They are opting for cheaper alternatives, like potlucks, game nights, and at-home gatherings. This is a clear signal that they are prioritizing their savings over the need to be seen as social. This is a powerful form of rebellion against a culture that has devalued their money and their labor.
This shift in social habits is a clear sign that they are taking back control of their financial futures. They are choosing to define fun on their own terms, where a cheap night in with friends is more important than an expensive night out. This is a clear signal that they are building a life that is based on their own values, not on the expectations of others.
5. They are saying ‘no’ to expensive experiences for financial freedom.
While travel and experiences have long been a status symbol for millennials, a new trend is emerging: saying “no” to expensive experiences for the sake of financial freedom. They are choosing to prioritize their savings over a spontaneous trip or a luxury vacation. This is a clear signal that they are valuing long-term security over short-term gratification.
This shift in mindset is a powerful form of rebellion against a culture that has not provided them with a clear path to success. They are choosing to be proactive about their futures, taking on the responsibility of their own financial planning. This is a clear signal that they are taking back control of their financial futures, building a life that is based on their own values, not on the expectations of others.