There is much about Gen Z that confuses older generations. There are a lot of things that they tend to do differently in comparison to baby boomers and millennials. The same can be said for their money habits.
Gen Z is the generation born between the years 1996 and 2014. The oldest members of this population are just now starting to graduate from college and start their journey into the workforce. This group of young people have serious potential and that is represented in the ingenious ways in which they earn money.
According to the Pew Research Center, Gen Zers are on track to become the most diverse and well-educated generation yet. This can be said because they grew up in the age of technology, with the iPhone coming out when the oldest were just 10, which means that they were most likely to have been affected by the internet and social media then generations before.
With this in mind, there is a notable different approach to employment than their parents and grandparents. Younger workers are looking for flexibility and aren’t afraid to switch jobs to find it in comparison to older workers who valued stability and preferred to stay with the same company for decades.
Younger people may have different priorities for their employment, such as preferring working in a coffee shop rather than working in a cubicle for a coffee shop. Most importantly, the trend is deviating farther away from 9-to-5 jobs and more towards jobs that develop more online.
Read on to discover how millennials are earning money and building their wealth all thanks to the internet.
Online money-making opportunities
According to a report made by Lexington Law, about a quarter (22%) of Gen Z say they make money online. There are a lot of different websites and apps where people are able to earn money, whether it be by selling their skills, selling handmade products or doing activities online.
For example, if someone likes to write, they can start their own blog and earn cash via affiliate marketing, product sales and ads. If someone does a type of craft, they can sell handmade items on Etsy.
The Amazon US stats shows that more than 300,000 third-party sellers started selling on Amazon in 2017. Also, the sales of more than 140,000 third-party sellers surpassed $100,000 in annual sales.
A great option for freelancers is Fiverr, where people create a profile and can sell their gigs (skills) from voice over, transcription, video editing, illustration, virtual assistance, running Google and Facebook ads and more. With time and a stable internet connection, Gen Zers are using the online world to help meet their financial goals.
This websites, can be used as a side hustle, which is a way to make money outside of a full-time job or become the only way someone gets income.
Generation Z has been able to avoid what is considered as “real” jobs, and have been successful at make a living thanks to the internet.