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Podcast: News and Views
Episode: Sneakers, Concerts, and iPhones: Inside Gen Z’s Financial Choices | The Quint
Description: India’s Gen Z is a mystery for any economist. They make less money in real inflation-adjusted terms than the previous generation, the millennials, but they spend much more on consumption and experiences than any other generation did. While their parents saved to build assets, Gen Z has very little savings. In fact, they often have huge amounts of debt—credit card payments that they have rolled over, or personal loans they have taken—without a concrete plan on how to pay them back. The reason for this can be encapsulated in one term: Financial Nihilism. In a brand-new episode...