Cash Flow Diaries

Note: This article contains affiliate links in which the creator may earn a small commission from.

  This is an excerpt from my upcoming budgeting guide. The full chapter includes 6 different hacks. You can find it HERE when it becomes available. 

  Recently, I took a look at how both Gen Z and Millennials waste their money. This week, we’re going to look at Gen X with the help of ChatGPT. Gen X is often referred to as the “forgotten generation”. Still too young to comfortably retire, but not young enough to set many trends, Gen X is currently sandwiched between caring for aging parents and supporting their almost/fully grown kids. As a generation, they’ve been through a lot. In particular, Gen X has been unwillingly subjected to multiple recessions and a constantly rising and falling housing market. Because of this, Gen X are typically cautious when it comes to money. But that doesn’t mean they are immune to wasting it. 1. Cable AND Streaming I thought this one was a bit silly upon reading, only to discover that Gen X spends a significant amount of money on both cable television and streaming services. While some have realized their financial mistake and cancelled one or the other, many Gen X are still spending money o...

  Recently, I took a look at my own generation’s spending. I was able to vouch on many categories because of my experiences as a Gen Z. For this article, I decided to ask ChatGPT what it thinks Millennials waste the most amount of money on and fact checked it’s answers. Here’s what it said: 1. Subscriptions Millennials have quite literally been dubbed the “Subscription Generation” in past times. With an average of 5.5 subscriptions per person , it’s no shocker to hear that millennials also spend over $100 on average on subscription services. Subscriptions can feel cheap individually. But when you have several $10 subscriptions per month, that can add up fast . 2. Convenience Spending Similar to Gen Z, Millennials just really don’t like cooking at home.  And with the abundance of apps like UberEATS and Doordash, it’s easier than ever to get whatever you want delivered straight to your house. But just like gen z, millennials are overspending heavily in this category. A study b...

Forbes once called Gen Z the biggest online spending power in history . With their purchasing power expected to increase to 12 trillion by 2030 , it is no surprise that Gen Z is a huge and powerful market force. On the other hand, Gen Z also marks the generation with more consumer debt than any other generation. As a certified early Gen Z myself (2001, baby), I can’t say I was shocked to hear that the average member of this generation has over $90,000 in debt. I’m not even a stranger to this myself, having faced both credit card debt and student loans. We are not exactly known for our financial wisdom. And while part of this has to do with out of control inflation and rising housing costs, some of it also has to do with what we are spending (or wasting) our money on. We have been making efforts to try and control our spending in certain areas, but still fall short in quite a few areas.