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#nospend: How Gen Z And Millennials Are Making Finances Fun In 2024

This trend has gained a of traction with #nospend garnering over 56.5 million views on TikTok.
Cover Image Source: TikTok | Photo by Maitree Rimthong
Cover Image Source: TikTok | Photo by Maitree Rimthong

Millennials and Gen Z are making finances fun for 2024 amid inflation, stagnating wages, and a high cost of living. In 2024, the younger group, which is often intimidated by finances, is trying to cope better by using fun ways of budgeting, saving, and developing financial habits. Further, social media apps like TikTok have come to the aid of millennials and Gen Z, with trends that encourage a personalized, active approach to finance. People are talking about budgets, participating in no-spend challenges, and practicing several other good financial habits.

Here’s a look at ways how Gen Z and Millennials are making finances fun in 2024.

Early in 2024, the popular trend of the no-spend challenge gained traction across TikTok. The challenge encourages participants on TikTok to not spend money on anything but the absolute essentials, for a set period. Most people start with doing the challenge for a month, like No-Spend January, while others attempt to avoid spending for months at a time.

This trend has gained a of traction with #nospend garnering over 56.5 million views on TikTok. The challenge has inspired creators to share their ideas on how to reduce the overall cost of living. The challenge does not aim to reduce the joy of living but rather find a way to make things work by consuming less.

@jodie.melissa Honest thoughts & feels around mindful shopping, being intentional, overwhelm and stuff… This year I've realised there's a correlation between how overwhelmed I feel and how much choice I have in my life, whether that's choice of things to buy because "it will bring me happiness" or the things I own. The overwhelm was hiding in the small things. The drawers full of skincare, the one swimsuit I'd wear hidden amongst 4 others, the 13 mugs but 3 favourites I rotate between. The two things I mentioned here are helping, but I haven't figured this out fully... I think maybe we're all different when it comes to the optimal amount of stuff to own that feels supportive and not chaotic. I'm still learning to spot the things I truly want to buy because it will bring me joy or enhance my life in some way, or the things I'm simply being persuaded to buy that will just collect dust. This really could have been 10+ minutes long, but I'd love to know your thoughts! #mindfulshopping #capitalism #blackfridayshopping ♬ original sound - jodie.melissa


Another social media theory that is encouraging people to spend less is the mindful shopping trend. In this, people have all sorts of reasons for why they consume some of the items that are not essential. These reasons range from simple things like a dopamine hit to saving time at work. Further in the trend, several creators are using these platforms to encourage mindful spending by sharing habits of spending a week or a month thinking about a purchase rather than making it impulsively. Further, mindful and disciplined shopping allows people to enjoy the items that they buy without any regrets.

@h3ycharlie Middlechild always saves more💰👧🏻🙍🏻‍♂️👩🏻 #fyp #mylife #middlechild #piggybank #savings #parenting #wow ♬ Jiggle Jiggle - Duke & Jones & Louis Theroux


As per trend reports, like Pinterest Predicts, search trends for credit card stickers were up by 140%, while searches for ceramic piggy banks were up by 95%. These aesthetic and nostalgic approaches to money management are significant. A custom, physical reminder in the form of a credit card sticker can help a person take pride in their financial journey and stay motivated. Further, the habit of loose change saving may not save a lot of money but it helps encourage the habit of saving in general.

TikTok content creators are sharing unique aesthetic options for colorful digital and physical financial planners for people. These planners offer easy and interactive means to manage money and include healthy financial habits in life. Creators share customized spreadsheets for people with specific goals, breaking down their spending into categories along with savings trackers. Unlike a regular planner, these are specialized planners dedicated to money management. This helps people introduce some structure in their financial management and helps those who struggle to stick with a particular budget.