Disclaimer: This Inside South Florida segment is sponsored by Beyond Finance. All opinions and views are if the advertiser and does not reflect the same of WSFL-TV.
Nearly 80% of Gen Z and millennial Americans have shifted to what financial experts
call "survival spending," according to a survey from Beyond Finance and Operation
Hope — and experts say the trend reflects economic pressure, not poor decision-making.
Dr. Erika Rasure, chief financial wellness advisor at Beyond Finance, said high
fixed costs are leaving young adults with little room to get ahead financially.
"Survival spending often reflects pressure, not necessarily poor choices. So many
young adults are dealing with high fixed costs that eat up most of their paycheck
before they can even get ahead. Rent, groceries, student loan debt, child care,
insurance — all of those things leave very little breathing room," Rasure said.
"What some call survival spending is really just people trying to manage real needs in
real time, reduce some stress, and maybe preserve some sort of quality of life in a very expensive environment," she said.
For those feeling stuck or overwhelmed, Rasure said the first step is changing the
mindset around financial struggle.
"The goal here is to reduce shame and comparison — and comparison not only with
prior generations, but also with our peers. The first step is to stop equating feelings
with failure. Many people are responding to real economic pressure," Rasure said.
She recommends shifting focus to one small, controllable action each week — whether that means reviewing recurring bills, automating a small savings contribution, or
paying down a single debt balance.
"Create small wins over time. Reduces stress and creates momentum, which is key.
And keeping things going," Rasure said.
Rasure said free financial resources are available at beyondfinance.com and operationhope.org for anyone looking for support.
"The realization that they're not alone — we all have money pressure. It's real pressure right now. And you don't have to do it by yourself," Rasure said.
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