Chasing Paper
What it is: Data from CreditKarma shows how Gen Z’s perception of money is increasingly skewed by how much they think they need to have.
Why it's happening: According to a survey of 1,000 Americans, more than 44% of Gen Z (and a quarter of all Americans) say they are fixated on the idea of being rich. This fixation can mean young people often compare how much money they make to how much money it seems like others are making, and as a result, feel like they don’t (or may never) make or have enough money. This creates a conflict between their salary expectations and spending power versus the reality of how much money most people actually earn. Financial analysts are calling this phenomenon “money dysmorphia,” and the modern equivalent of “keeping up with the Joneses.” “Money dysmorphia” may lead young people to overspend, take on more debt, hoard their income, or be less generous with their giving. These young people seem to feel like acquiring wealth is necessary for their future comfort and happiness—but they have more “Joneses” than ever to keep up with because of social media, and climbing the class ladder in the US feels more out of reach than before.
Continue the conversation: How much money would you need to have before you considered yourself “wealthy”?
Declarations of Codependence
What it is: In a newly published survey, Pew Research found that young adults appear to be more dependent on their parents emotionally, physically, and financially than previous generations were.
What it reflects: This report shows us how the milestones individuals use to define themselves as “independent” are evolving. More young adults are employed full-time today than were in 1993—yet about a third of young adults live with their parents. Many are choosing to delay having children (and young men are more likely than young women to say they want to have children someday). Fewer than half of adults under 30 say they are financially independent from their parents, and the huge majority of those surveyed said they rely on their parents for advice and emotional support. One in four parents told Pew Research that they even use GPS if only on occasion, to track their young adult children. Interestingly, this dependence isn’t something young people seem to be resentful of; 82% of young adults define their relationship with their parents, on the whole, as good or excellent.
Continue the conversation: What do you think makes a person an “adult”?
Beef (Megan's Version)
What it is: Megan Thee Stallion’s newest single “Hiss” has quickly ascended to the forefront of the music charts, sitting at #1 on both Apple and Spotify.
Why it's trending: Megan Thee Stallion is perhaps best known for her duet with Cardi B, “WAP.” (If you can’t remember it, don’t look it up.) Since then, she has continued to be known for her explicitly sexual lyrics and bombastic persona, and “Hiss” is no exception. It’s a catchy beat with three minutes of lyrics that are explicit in every sense of the word. Part of the song’s popularity comes from Megan Thee Stallion’s very public beef with fellow rapper Nicki Minaj. Their ongoing feud has been all over TikTok and other social media platforms and has a long, complicated history. Most listeners, including Minaj herself, believe the lyrics of “Hiss” are meant to directly insult Minaj and her husband. Minaj even went so far as to rush out a song of her own, “Big Foot,” in response to “Hiss.” It’s hard to look at “Hiss” and find something redeemable to talk about, but it’s also worth being aware of how public feuding—whether petty, provocative, or both—continues to translate to viral hits and ticket sales for today’s big artists.
Continue the conversation: Have you seen the song “Hiss” trending on TikTok?