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From Boomers to Gen Z: How Different Generations Spend (and Save) Their Money

Updated: 2 days ago

Have you ever noticed how your shopping habits differ from those of your parents or your younger siblings? It sometimes feels like different generations somehow view money differently, too. It actually is true – and it’s easy to explain. Personality traits form during the childhood years, which means your approach to money is shaped by the economic situation of the times you grow up in.

In this article, we’re going to explore the offline and online shopping habits of Baby Boomers, as well as Generations X, Y, and Z. We’re also going to look into the ways they save and the various reasons they might find Honeygain appealing for – you’ll be surprised to see just how universal it can be!

Baby boomers

Baby Boomers (born in 1946–1964; currently 57–75 years old)

Baby Boomers are the people who say things like ‘a penny saved is a penny earned’ and ‘make do and mend.’ It’s understandable: growing up right after the Second World War, most of these people couldn’t really enjoy an abundant and wealthy childhood, so they learned to save. However, if you think this means they’re cheapskates – think again!

Yes, baby boomers don’t waste money on what they don’t really need – but they do splurge on quality necessities. They can afford it: not only have their children and grandchildren left the nest, but their property values have also risen dramatically in the last few decades. According to Capital, baby boomers now spend 3 times more on holiday accommodation than Gen X and twice as much on visiting theaters and cinemas than those under 30!

Having seen the massive changes in their property value also makes boomers really fond of long-term investments. Obviously, not everyone can afford to put massive sums of money into this, but investing small sums can also pay off well with time. Earning with Honeygain is a perfect opportunity: as long as you’re getting free money, there’s no need to put your life savings at risk!

Generation X

Generation X (born in 1965–1980; currently 41–56 years old)

Generation X is generally seen as less trustful when it comes to purchasing goods or investing – and there are two good reasons for that. First, their adult lives have been defined by economic downturns, which makes them more risk-conscious. According to The Balance, one out of three Gen X’ers doesn’t feel confident about achieving their financial goals. It’s not really surprising that Gen X’ers are also the most active savers and insurance buyers, always prepared for a rainy day.

Second, Gen X now simply has less money to spend on themselves, as it’s pretty common for them to be taking care of their elderly parents and/or not yet financially independent children. This doesn’t just mean extra expenses, too! Juggling full-time work and family commitments makes for a pretty busy life. Even if Gen X’ers would love the idea of earning and saving a bit more money, they don’t usually have extra time to spend on side hustles.

Passive income, which requires little to no effort, could be their salvation. For example, earning with Honeygain might not cover massive monthly expenses like living or car costs, but it won't take any time or energy either – and yet, it will surely help them treat themselves with things like cinema tickets, quality coffee, or other ways to relax on days that feel like never-ending hamster wheels.

Generation Y, or millenials

Generation Y, or Millennials (born in 1981–1996; currently 25–40 years old)

Out of all the different generations, Millennials are probably talked about the most often. We’re sure you’ve seen multiple articles about them allegedly killing one industry after the other by not buying something anymore. Sometimes, the reason is higher health awareness (e.g., with processed foods) or strong online shopping habits (e.g., with department stores) – but more often than not, it’s simply things Gen Y can’t afford to waste their hard-earned money on.

Due to higher-than-ever real estate prices (and wages that don’t grow nearly as fast), Millennials spend more money on housing than any other generation that came before them. They also spend more on rent before they can finally afford to buy and are often burdened with student debt. In addition to that, Gen Y is the first generation to grow up with social media – which translates to increased self-awareness and peer pressure.

Millennials are incredibly tech-adept, have robust online shopping habits, and see smartphones and various apps as a natural part of their lives. Because of this, they quickly grasp the concept of Honeygain and get on board, as it’s a modern way to not just earn effortlessly but also help companies pursue various processes that are necessary for a safe and pleasant web experience.

Generation Z

Generation Z (born in 1997–2012; currently 9–24 years old)

Most articles that speak of different generations in terms of money, spending, and saving, don’t discuss Gen Z just yet. It’s understandable: most of them aren’t yet financially independent. However, we do live in the times when the highest-paid YouTuber is a nine-year-old. The world has never been this diverse and interesting before!

When it comes to spending their money, Gen Z’ers are open to spending more on unique, personalized, and individually tailored products. Aside from having strong online shopping habits, they also prefer payment flexibility, including but not limited to online banking, cryptocurrencies, and peer-to-peer finance apps such as Venmo.

The older Gen Z’ers have been entering the traditional workforce for a few years now – nevertheless, they have been earning for longer than that. Having been born in the times of influencers, digital content, freelancing, gig economy, passive income apps, and online marketplaces, they are often capable of making money in their free time while still studying and even juggling multiple income streams. It’s no surprise most of Honeygain users are young people who are open to trying out new digital opportunities and ways to make money!


It’s clear as day: different generations have very different offline and online shopping habits and money-spending tendencies overall. Nevertheless, this doesn’t mean they cannot appreciate the same personal budgeting ideas, such as benefiting from passive income streams!

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