Do young people have a different relationship with money? Yes, in many ways it shows the 6my edition of the Observatory on the meaning of money Crédit coopératif/Viavoice, prepared in collaboration with the Paris Business School. But the results sometimes go against the image that Generation Z (born between the late 1990s and the 2000s) has, says sociologist Arnaud Zegierman, co-founder of the Viavoice institute.
Young people who aspire to “make quick money without working too hard” is one of the clichés about Generation Z. What’s up with that?
There are many misconceptions about them. Certainly, our barometer shows that young people between 16 and 24 years old have a different, more uninhibited relationship with money. [le sondage a été mené en ligne fin août et début septembre auprès de 1 400 personnes, dont 529 16-24 ans]. They tell us that earning as much as possible is a goal to succeed in life (76%), be happy (69%) and integrate (51%), much more than the general population (62%, 60% and 42% respectively) .
However, the fact that they no longer want to work is false; Our studies show levels of commitment to work equivalent to those of their elders. Do companies regret that they resign more easily and are more demanding? What they consider an evolution of values is more a matter of context.
There are fewer young people and the demographic balance of power has reversed. Young graduates have more options and they take advantage of them. If a competitor offers them more money, it’s no wonder they leave, it’s up to companies to learn how to keep it. The salary is all the more crucial for them as the question of purchasing power is central to inflation.
The Educfi passport in certain institutes
The Educfi passport, a financial education module tested since 2019 in fourth grade, is extended to vocational secondary and CAP students. It is a reinforced version, explains Marguerite Collignan, of the Banque de France: “The objective is to delve deeper into the topics covered in 4my – budget, scams, etc. – and add the credit and the tax. » Tested in eleven vocational training institutes in 2023-2024, this reinforced passport is now accessible in all establishments (the establishment decides whether to use it or not), it specifies. The university’s Educfi module was taught in 2023-2024 to 340,000 high school students, out of a total of 750,000 fourth grade students, despite the announced generalization of the system in 2023. “Generalization does not mean obligation, universities have the option, but the figure should be higher this year”M estimatesme Collignan.
Sometimes they are also portrayed as individualists, fatalists…
If they face colossal challenges, particularly ecological ones, they do not see themselves as a sacrificed generation. We imagine them to be more fatalistic than they are. Regarding the evolution of their finances and their future, they say they have confidence in 62% and 71% respectively, compared to 55% and 67% of the general population. Regarding the future of French society and the planet, they are certainly not optimistic: only one in three is confident. Young French people are still French and culturally pessimistic, but they are less so than their elders.
A little more than the total of those surveyed (60% compared to 56%), believe that they can change what is wrong in society, first of all through their consumption and their vote. Almost one in two 16-24 year olds (47%) also believe that the way they invest their money can have an impact, nine points higher than the general population.
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