35,000? That’s a little extra. It’s making us feel all cringey.
Today’s fast-paced society involves hefty prices at the store, insurmountable debt from school, and tight deadlines at work with just enough — but never enough — time to sleep. Throw in school stuff and a new car with an MSRP of $35,000, and Generation Z says…
This sums up Generation Z to a T.
Ownership Experience: Getting a Buick is worth the money though
No time, no money, no problem
Any teenager in this day and age is likely to call an Uber or Lyft for a ride before shoveling out money from his or her savings account that is supposedly for used textbooks when he or she goes away to college.
In addition to funds, the average high school student plays about one sport per season and performs in the spring musical, all while participating in the National Honors Society on the side. Alright, that may be a bit exaggerated, but students have a lot of extracurricular activities going on at school.
They have no time and no money, and it shows in recent statistics in the Wall Street Journal. In 2017, about one quarter of 16-year-olds had a driver’s license. That number was nearly half of the amount in 1983.
Where did the money go?
With little enthusiasm for enrolling in driver’s ed classes, Gen Zers are likely to make few new car purchases this year. According J.D. Power, Gen Zers will buy 120,000 fewer new cars than millennials bought in 2004, when they were the incoming class of new drivers. That is 488,198 now to 607,329 vehicles then.
Gas Up: At the right times to save yourself some cash
Debt for student loans today has surpassed $1 trillion, while private driver’s ed training costs as much as $1,000. It’s evident that money doesn’t grow on trees, and it doesn’t stick around long enough to make itself at home in Gen Zers’ savings accounts.
Source: Jalopnik.com, Wsj.com (Subscription Required)
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