Yo, let’s keep it 100 right from the jump. In an era where everything costs an arm, a leg, and maybe even your firstborn’s college fund, Gen Z is rewriting the rules on love and money.
Picture this: Over half of these young hustlers, ages 18–27, are spending zilch—nada, zero dollars—on dating each month. And the ones who do splurge? They’re keeping it under $100. Debt-free is the new sexy, straight up!
Gen Z is a generation grinding harder than ever, squeezed by inflation that’s got them living check to check, skipping meals, pawning heirlooms, and even dipping into retirement savings just to keep the lights on. This ain’t no sob story; it’s a wake-up call. In The Carr Report, we’re diving into why Gen Z is locking down their wallets on romance and survival—and how they can flip the script to build real wealth.
The Dating Drought
According to fresh data from Bank of America’s 2025 Better Money Habits report, surveying over 900 Gen Z adults, 53 percent are spending exactly $0 on dates each month. That’s men and women alike—53 percent of guys and 54 percent of gals saying, “Nah, I’m good.”
And it’s not because they’re anti-love. It’s the economy, stupid! Inflation has prices skyrocketing—from rent to Ramen—leaving little room for Netflix-and-chill upgrades. Reuters reported that more than half are opting out of dating costs entirely, while MarketWatch dubbed it a “romance recession.”
Even Yahoo! Finance noted Gen Z’s pragmatic pivot: dining out less, budgeting tighter, and prioritizing savings over splurges. Love ain’t dead—but in this climate, it definitely needs a stimulus package.
Beyond Broke Pockets—It’s a Mindset
Here’s the deeper truth: This is bigger than broke pockets—it’s a mindset shift.
Gen Z grew up in the shadow of recessions, pandemics, and now persistent inflation. They’re the first generation to enter adulthood with student debt averaging $30K, entry-level jobs paying peanuts, and housing costs that laugh in your face.
Bank of America’s Holly O’Neill summed it up: They’re shopping smarter, saving more, and leaning less on family handouts. Debt-free is the glow-up because they’ve seen the traps—credit card interest eating dreams alive and loans chaining folks to jobs they hate.
In my years as a money coach, I’ve seen this play out. Folks who dodge the debt devil in their 20s set themselves up for freedom in their 30s and 40s. Call it wallet wisdom: “Credit isn’t a come-up if it sets you back.”
Extreme Measures
to Survive
Now zoom out to the bigger hustle: Gen Z squeezing cash like it’s the last drop in a drought.
Fortune reports that young renters—mostly Gen Z—are resorting to extreme measures just to survive:
22 percent are skipping meals outright to cover rent. Breakfast or bills? They choose lights over lunch.
22 percent are pawning belongings, turning grandma’s jewelry into grocery money.
19 percent are dipping into retirement savings early, raiding 401(k)s or IRAs meant for golden years to pay today’s bills.
Yahoo! Finance paints Gen Z as responsible but desperate—choosing between doctor’s visits and dinner. Newsweek confirms young workers are tapping retirement pots for emergencies and debt payoffs, a risky play that sabotages compound interest.
Inflation is the villain here. It’s got the young generation grinding hard, living paycheck to paycheck, stressed and stretched.
Silver Lining: A Smarter Generation
But here’s the twist: there’s silver in the struggle.
The Guardian reports that Gen Z is saving for retirement earlier than millennials did, socking away up to 20 percent of income. The New York Times backs it up—20 percent of them are already building nest eggs.
Investopedia says they’re mastering inflation concepts their parents still fumble, adapting in real-time to high costs. Rolling Out flips the narrative: Gen Z ditching the old retirement model, stacking multiple income streams, and prioritizing independence over the 9-to-5 trap.
So yes, they’re stressed. But they’re also strategic. This generation is broke on paper—but wealthy in wisdom.
The Carr Playbook: Moves, Not Excuses
From my perch as a money coach, this is prime time for strategy over struggle. Financial success ain’t luck—it’s moves.
Here’s the Carr Playbook:
Budget Every Dollar— Every buck should have a job. Track spending like a hawk.
Grow the Gap—Hustle side gigs, cut fluff, stack savings.
Plastic Can Smother You—Never run up more than $600 on any credit card. Pay it off in full each month.
Emergency Fund Before Bling—Three to six months of expenses. Period.
Invest Early—Let compound interest do the heavy lifting.
Talk Money in Relationships—Be equally yoked financially or you’ll be fighting, not thriving.
Educate Yourself— Books, apps, podcasts—game is free if you want it.
Plan for Power—Insurance, wills, teaching kids the game. That’s legacy.
Translation: Don’t flex if you can’t afford the bounce-back.
The Social Buzz
On X (formerly Twitter), the convo is loud. Users like @MarioNawfal highlight Gen Z’s budget dating amid inflation, while @Alexkennedy310 echoes the numbers—half of young adults spending nothing on romance.
It’s real talk from the timelines: Gen Z ain’t playing.
The Final Word
Gen Z’s got the blueprint: dating on a budget, savings on lock, and debt-free as the ultimate flex. Inflation’s pressing, but they’re built for this.
Skip the meals if you must. Americans eat too much anyway! Both your wallet and your waistline will thank you later. However, don’t skip the plan. Pawn the stuff, but invest the proceeds. Dip into retirement? Only as a last resort to avoid bankruptcy, eviction or foreclosure. If it comes to that, be sure to fix what broke you financially and rebuild twice as strong.
Your money story can change today. Let’s build it. Let’s grind. Let’s grow!
Debt-free ain’t just sexy—it’s smart. Stay winning.
(Damon Carr, Money Coach & Tax Pro can be reached at 412-216-1013 or visit his website at www.damonmoneycoach.com)
(Helping you flip your finances from stressed to blessed — one smart decision at a time.)