Gen Z and Millennial women are rethinking spending on major life moments, like attending weddings or family planning, due to high cost of living.
Seventy percent of women believe it is important to have enough money to “treat themselves whenever they want” including paying for dinner with friends and shopping for new clothes.In the midst of the ongoing financial crisis, women are rethinking how they do everything from celebrating friends’ milestones to planning families. In two separate consumer surveys, Credit Karma digs into the key changes women are making to adjust for the rise in cost of living and the nuanced shifts in behavior.
When compared to couple friends, single women told Credit Karma they have a harder time budgeting for certain activities including vacations, dining out and entertainment. Moreover, 35 percent of single women said they have a hard time affording necessities like rent and groceries, among other bills. Almost 10 percent of women said they have gone into debt to keep up.
Expenses in mind, women are no longer subscribing to the milestone timeline of years past, both unable to and unwilling to let society’s expectations determine their paths. Forty percent of women say they’re not following the societal timeline of getting married, buying a house and having kids. By generation, the sentiment was most true for Millennial women followed by 41 percent of Gen Z, 40 percent of Gen X and 34 percent of Baby Boomers.
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