The Generational Divide in Saving Habits: Why Gen Z Leads the Way

Gen Z saves more than any other generation, with an average savings rate of 14%. This can be attributed to their experience of witnessing the financial instability and distrust during the Great Recession, their lack of trust in Social Security due to predictions of its depletion, and their inclination to invest, particularly in cryptocurrency. Saving not only ensures stability later in life but also improves mental health and increases happiness.