Saving money has always been considered a virtuous habit. Previously, people would set aside a significant portion of their income for future needs, such as buying housing, educating children, and retirement. However, among Generation Z, a new method of financial management called soft saving is gaining popularity.
With soft saving, young people aim not only to save money for the future but also to fully enjoy life in the present. Instead of saving all their earnings, they prefer to spend some money on entertainment, purchasing desired items, and personal expenses.
Soft saving implies the absence of rigid rules regarding accumulation. People set aside a certain amount for the future, but cover their current needs and desires with the remaining funds. For example, instead of saving a large sum monthly, a young person might save a small amount, using the remaining funds to attend concerts with friends or buy favorite goods.
Traditional saving focuses primarily on financial future. People concentrate on regularly setting aside a fixed amount, investing, and achieving long-term goals. In contrast, soft saving gives equal importance to living in the here and now and does not deem it necessary to forgo every small pleasure for the sake of savings. Nevertheless, this does not mean that young people stop saving altogether.
Generation Z faces serious economic challenges, such as inflation, rising rent, labor market instability, and difficulties in acquiring housing. Many young people feel that even with active saving, very big goals can be hard to achieve. Therefore, they want to spend part of their income on today's pleasures and experiences, as they believe it is wrong to constantly postpone life.
Social media has also contributed to the formation of this concept. By viewing content about travel, fashion, concerts, and lifestyle on Instagram, young people strive to gain new experiences. They believe it is important to spend money on things according to their taste, rather than just increasing their bank balance. For them, a happy life includes not only financial security but also creating pleasant memories.
Soft saving does not mean that Generation Z completely ignores the future. It is more of a desire to find a balance between savings and spending. They want to keep some income aside for emergencies and future needs, but at the same time, they do not want to put off every joy until later. Furthermore, excessive spending without any plan is not soft saving.
Soft saving demonstrates that for Generation Z, financial success is not solely about accumulating large sums. They want to have both savings for the future and funds to live life as they choose today. While traditional saving focuses on protecting the economic future, soft saving tries to find a balance between the present and the coming times. Thus, for Generation Z, it has become important not just to save money, but to use it correctly.
The trend of soft saving shows that Generation Z is changing its attitude towards money. For them, simply accumulating funds for the future is not enough; living in the present according to one's preferences is also very important. They do not want their small joys to be left behind due to concerns about savings. However, alongside this attitude, it is important to understand financial responsibility. Ignoring future needs for present spending is not the right decision. True wisdom lies in combining savings and enjoying life.
