As a Filipina Gen Z adult, balancing the present with financial worries is a familiar struggle. Despite knowing the importance of saving, high living costs make it hard to resist spending on things that offer comfort. Unlike past generations, we face rising prices and stagnant wages, making daily essentials consume a larger portion of our wallets.
It’s not that we don’t understand the value of money—trust me, we do. But when the cost of living is so high and the future feels uncertain, it’s easy to fall into unhealthy spending habits as a way to cope. We want to enjoy our lives now, even if it means paying for it later.
Our parents talk about how they could fill up a grocery cart with a fraction of what it costs today, how a good job was practically guaranteed with a college degree, and how saving for a house seemed like an attainable goal rather than a pipe dream.
For many of us Gen Zs, spending has become a coping mechanism amidst our budget anxiety. Take food, for instance. We often prioritize quality over cost, willing to spend a little more for meals that bring comfort, even if it strains the budget.
Then there’s the emphasis on self-care. Skincare and health products have become essential spending for my fellow Gen Zs, the appeal of looking and feeling good now outweighs the need to save every peso.
Another guilty habit is our penchant for convenience. Gen Zers prefer splurging on ride-hailing services over more affordable alternatives, to save time and get a brief respite from the daily grind.
The struggle to balance immediate gratification with long-term financial stability feels like a daily battle. As inflation rises and wages stagnate, the cost of living is becoming a burden that’s hard to ignore.
