Living
Gen Z Is Splurging on Luxury Goods to Soothe Their Economic Despair
For younger generations, financial goals like buying a house and saving for retirement can feel out of reach.
Nia Holland, 24, spent $2,500 on a vintage Chanel bag.
Photographer: Nic Antaya/Bloomberg
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What really matters anyway?
That’s what Nia Holland, 24, thought after spending $2,500 on a vintage Chanel bag, draining her savings. Earning little money with campus research jobs during graduate school, she knew her money could be better spent, saved or invested.