Penulis: Ai Reni Ratnasari, M.H / Dosen Tetap HES STAI Riyadhul Jannah Subang
tintagenz.com- Generation Z is often caught between two extreme and contradictory narratives. On one hand, they are portrayed as the most investment-conscious generation; adept at navigating mutual fund apps, familiar with crypto, and fluent in talking about financial freedom. Yet on the other hand, a worrying global phenomenon has emerged: doom spending—impulsive spending behavior to comfort oneself due to the feeling that the economic future is too bleak to be saved.
These two opposing phenomena lead us to a big question: Is Gen Z moving towards mature financial awareness, or are they instead falling into the pit of economic apathy?
The Illusion of Ease and the Trap of Doom Spending
Economic apathy in Gen Z is not born out of a vacuum. It is a psychological response to an increasingly unfriendly economic reality. The surge in property prices that is unreasonable compared to wage growth, the inflation in the cost of living, and the uncertainty of the job market in the gig economy era make many young people feel that the “door to success” for the previous generation has been closed to them.
When conventional financial goals such as buying a house or preparing a retirement fund feel impossible to achieve, apathy arises. The thought “Why save if the money still isn’t enough to buy a house?” disrupts their financial logic. Eventually, the money on hand is redirected toward instant gratification: self-care, concerts, aesthetic coffee, or branded goods. Thus emerges doom spending a coping mechanism for economic despair.
Ironically, this apathy is exacerbated by financial digitalization. The ease of access to Paylater and online loans (pinjol) blurs the line between ability and willingness. Based on recent OJK data, the portion of non-performing loans from young generations continues to increase. This shows that instead of leveraging technology for financial escalation, many Gen Z are actually swept away by the convenience offered.
A Wave of New Financial Awareness
However, it is wrong to label all of Gen Z as a financially defeated generation. Behind the shadows of this apathy, a very massive new financial awareness movement is growing.
Gen Z is the generation most exposed to financial education in human history, thanks to social media algorithms and the proliferation of financial influencers. They no longer see investing as an exclusive instrument belonging to well-dressed bourgeois in the Sudirman area. Through the concept of micro-investing, Gen Z proves that investing can start with “spare change” worth a cup of milk coffee through their smartphones.
Gen Z’s financial awareness is also much more adaptive. They no longer stick to the conventional path of “9-to-5 office work, saving, then retiring.” They move towards income diversification (side hustles), understand the importance of emergency funds, and begin to look into insurance from a young age. For this group, financial literacy is not merely a lifestyle, but a survival tool amid global uncertainty.
Determining the Direction of the Future
So, what is the direction of the future for Gen Z? The answer lies at a crossroads, depending on how they bridge the gap between knowledge (literacy) and action (behavior).
The biggest challenge facing Gen Z today is not the lack of information, but emotional discipline. Having financial awareness means being able to see beyond social media trends. Understanding what stocks are is worthless if at the same time a digital wallet is drained to satisfy the desire of FOMO (Fear of Missing Out).
Economic apathy is a hidden enemy. Giving in to difficult economic conditions by choosing to behave recklessly consumptively will only prolong the chain of poverty and create a new sandwich generation phenomenon in the future. Conversely, difficult economic conditions should trigger stricter financial awareness, not resignation.
Notes for Policymakers
Saving the financial future of Gen Z cannot be placed solely on the shoulders of the young individuals themselves. The government and regulators have a significant responsibility. Financial education must be formally integrated, even starting from school, not just as a seasonal campaign. Furthermore, regulations on the funding fintech industry must be tightened so that it does not become predatory toward young people who are not yet financially mature.
Gen Z has great potential to become the most financially independent generation in modern history.
However, that potential will vanish if they choose the path of apathy. It is time for Gen Z to turn economic anxiety into fuel to build a solid financial fortress. The future is not something to be feared and lamented through impulsive spending, but rather something to be designed with careful calculation.