View on Amazon

Gen Z: The Richest Generation Yet to Come, But Are We Ready?

Introduction

In the coming years, Gen Z is poised to become the wealthiest generation in history, with trillions of dollars expected to be passed down from baby boomers by 2035, according to the Bank of America. However, this anticipated windfall from inheritance contrasts sharply with the current financial struggles many Gen Z individuals face. Rising inflation, a cost-of-living crisis, unemployment, and a lack of financial education have left many in this generation grappling with basic expenses like rent, childcare, and utilities. This article explores the concept of the “money print”—the unique set of beliefs, behaviors, and emotional patterns around money that shape our financial decisions—and how Gen Z can prepare for this unprecedented wealth transfer by reshaping limiting money mindsets.

Shop now

The Wealth Transfer: A Generational Shift

The Bank of America projects that by 2035, Gen Z will inherit trillions of dollars from baby boomers, who amassed significant wealth during a time when property and economic opportunities were more accessible. This transfer is expected to make Gen Z the richest generation in history. However, this future wealth stands in stark contrast to the present, where many Gen Z individuals struggle to save or meet basic needs. Social media often amplifies this disparity, showcasing luxury lifestyles and high-rise apartments while many young people feel trapped in a cycle of financial instability.

This paradox raises questions about whether Gen Z is prepared to manage such wealth. Unlike previous generations, many in Gen Z were not taught how to build or sustain wealth, leading to feelings of guilt, inadequacy, or confusion around money. These feelings are rooted in what is termed the “money print.”

Buy now

Understanding the Money Print

The money print is a unique, personal framework of beliefs, opinions, and emotions about money, formed largely in childhood. Like a fingerprint, it varies from person to person and influences financial behaviors, often subconsciously. The money print dictates how much money one feels comfortable earning or spending, and it can lead to self-sabotaging behaviors, such as avoiding financial planning or overworking to compensate for feelings of inadequacy.

Common money prints include:

• “I’m just bad with money.” Many believe they are inherently incapable of managing finances, a mindset rooted in learned helplessness. This belief often stems from repeated financial setbacks, like unexpected expenses, that reinforce a sense of powerlessness.

• “I feel guilty spending on myself.” Some Gen Z individuals, particularly women and immigrants, may feel they must work tirelessly to justify spending on themselves, tying their self-worth to productivity.

• “Money is the root of all evil.” This belief can create a subconscious barrier to wealth, as individuals associate money with greed or corruption, leading to self-sabotage when opportunities for financial growth arise.

• “I’ll be happy once I have more money.” This mindset assumes that financial security will resolve deeper insecurities, but it often fails to address underlying emotional needs for safety and stability.

These limiting beliefs can trap individuals in cycles of stress, avoidance, or overwork, preventing them from building healthy financial habits.

View on Amazon

Breaking the Cycle: Practical Steps

To prepare for the incoming wealth transfer and improve their financial well-being, Gen Z must address these limiting money prints. Here are actionable steps to reshape financial mindsets:

1. Track Your Spending

One of the most effective ways to break the “I’m bad with money” cycle is to track spending. Apps like Snoop (not sponsored) categorize expenses, providing clarity on where money goes. For example, knowing that £153 was spent on subscriptions or £130 on transport can help individuals identify areas to adjust. Tracking fosters awareness and control, reducing financial anxiety.

2. Celebrate Small Wins

Guilt often fuels negative money prints, particularly for those who feel unworthy of spending on themselves. Celebrating small financial victories—such as reducing grocery spending from £75 to £65—can break this cycle. Acknowledging progress builds confidence and reinforces positive habits.

3. Focus on Big-Picture Questions

Instead of obsessing over small savings (e.g., cutting out coffee or Netflix subscriptions), focus on high-impact decisions. As Ramit Sethi suggests in I Will Teach You to Be Rich, ask “$30,000 questions,” like how to negotiate a salary increase or switch to a higher-paying career, rather than “$3 questions” about minor expenses.

View on Amazon

4. Reframe Money as Abundance

The belief that “money is the root of all evil” can be countered by viewing wealth as a symbol of abundance. Recognizing that money is a tool for stability and freedom, rather than a source of corruption, can help individuals feel comfortable earning and charging their worth.

5. Regulate the Nervous System

For those who feel guilty receiving money or struggle to rest, nervous system regulation is key. Practices like mindfulness or journaling can help individuals feel safe accepting money or taking breaks, breaking the cycle of overwork and burnout.

6. Define Personal Success

Many Gen Z individuals chase wealth without defining what it means to them. Success might mean enjoying daily work, treating oneself occasionally, or planning for the future. Defining personal success helps align financial goals with emotional well-being, reducing the pressure to chase external markers of wealth.

View on Amazon

The Emotional Side of Money

Money is deeply emotional. Beliefs like “I’ll be happy once I have more money” often reflect a desire for safety and security, not just wealth. These desires may stem from childhood experiences, such as achievement-focused parenting or societal praise for visible success. Social media exacerbates this by glorifying wealth, creating a paradox where Gen Z simultaneously desires and resents affluence.

To break free from this paradox, Gen Z must address the emotional roots of their money prints. For example, the belief that more money equals happiness often masks insecurities about self-worth. No amount of money can resolve these feelings if they are not addressed at their core. Similarly, the guilt of spending on oneself may reflect a deeper discomfort with receiving, which can extend beyond finances to relationships and personal time.

Preparing for the Future

The impending wealth transfer offers Gen Z an unprecedented opportunity, but it also demands preparation. By understanding and reshaping their money prints, Gen Z can move from financial stress to confidence. Tools like the Upgrading Your Money Print Workbook (available in the original content) can help individuals uncover and rewrite limiting beliefs, fostering empowering financial habits.

Moreover, embracing financial education is crucial. Books like I Will Teach You to Be Rich by Ramit Sethi or Money on Your Mind by Vicky Reynal offer practical insights into budgeting, investing, and redefining wealth. Community support, such as small coaching groups, can also provide accountability and guidance for those seeking to transform their financial mindset.

Conclusion

Gen Z stands on the cusp of becoming the richest generation, but wealth alone won’t guarantee financial security or happiness. By confronting limiting money prints and adopting proactive habits, Gen Z can prepare for the wealth transfer while building a healthier relationship with money today. The journey begins with understanding one’s unique money print, challenging negative beliefs, and taking small, intentional steps toward financial empowerment. With the right mindset and tools, Gen Z can not only inherit wealth but also create a legacy of abundance and emotional well-being.

Subscribe to my email newsletter now.

Listen to my articles now. Click the below link

Listen now

Buy my latest book on Amazon from here. Buy from Amazon

Affiliate Disclaimer:
This article may contain affiliate links, which means I may earn a small commission at no additional cost to you if you click through and make a purchase. As an affiliate, I only recommend products and services that I genuinely believe will add value to your holiday season. Your support helps me continue to create helpful content—thank you!