Moliyajon linked the next topic to the views and financial advice of Associate Professor Wenyao Xuning from the New York School of Management regarding Generation Z trends in 2024.

Financial Trends in 2024:

  • Generation Z introduces the “soft saving” principle: This generation values current quality of life and experiences over traditional savings.
  • They aim to spend money on things that bring immediate joy and invest in initiatives that reflect their values.
  • Spending on entertainment and leisure is a priority for them.

Based on this, the professor provides the following personal finance tips:

  1. Create a budget: Track your income and expenses to identify unnecessary spending and manage your finances effectively.
  2. Build an emergency fund: Set aside at least 3-6 months’ worth of living expenses for unexpected costs.
  3. Plan your investments: Regularly evaluate your career and income opportunities and adjust your investment strategy accordingly.
  4. Use financial technology: Take advantage of apps and tools to monitor expenses, save, and manage investments.
  5. Enhance your financial literacy: Read books, listen to podcasts, and follow financial blogs to stay informed.

Dr. Xu’s advice:
Diversify your investments and approach them carefully, taking economic conditions into account.

Put these recommendations into practice to achieve financial stability and independence!