Gen Z FOMO Fuels Big Spending Despite Inflation

Gen Z continues to spend on entertainment, while Millennials, Gen X, Boomers hold back due to worries about pricing pressures, new study shows.

Two Gen Z Women Dance At a Concert.
(Image credit: Getty Images)

Summer concerts and other entertainment had Americans scrambling to snatch up tickets for Taylor Swift, Beyonce, Barbie, and Oppenheimer. Although these events are expected to add $8.5 billion to the economy in Q3, the high ticket prices, looming student loan repayments, and record-high credit card debt are pushing many people to reduce their entertainment budgets. 

Older Americans spending less on entertainment

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Seychelle Thomas
Contributing Writer

Seychelle is a seasoned financial professional turned personal finance writer. She’s passionate about empowering people to make smart financial decisions by combining 10 years of finance industry experience with solid research and a wealth of knowledge. Seychelle is also a Nav-certified credit and lending expert who has explored money topics such as debt consolidation, budgeting, credit, and lending in her work for publications including GOBankingRates, LendEDU, and Credible.