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How do the Gen-Z’s prefer to save their money?

by Deanna Macaranas

EVER since we were little–whenever we get to receive money there will always be a time when our elders would tell us to save it.

At first, we see it as something that isn’t a big deal, and being a kid of course makes us unaware of the value that money holds. 

As we get older, we start to appreciate the value of money more as we finally get to realize that having the funds to pay off our bills and everyday necessities is just as crucial to living in this world. 

Saving your funding through banks or in the moneybox has been marked as a proven way to save money, but have you ever thought of the preferred methods on the Gen-Z’s in terms of saving money? 

In terms of having a method on how to save up your allowance, 21-year-old Stella claims that she both does banking and uses a moneybox at the same time.

According to her, she uses the alkansya (money box) for her emergency fundings as it was easy to take money from it.

As for the banking method—it is something that she uses to further save up for her future. 

The same thing could be said for 20-year-old Rosie, stating that banking helps her more as it refrains her from taking money from her money box. In that way she’s able to save up effectively as in order to get your money from the bank requires you to go to a machine to withdraw. 

“Because if I were to use alkansya (money box), I wouldn’t be able to save as I can easily take money from there,” she said.

While the banking method remains prevalent amongst the Gen-Z due to them not being able to easily get their money, 20-year-old Ziathrya had a different approach on why she prefers the banking method.

According to her, having a bank is something that she can practice with in terms of being financially independent. 

“It’s also not practical for young adults to use as you can easily pull out your savings from it.”



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