New survey has revealed that Gen Z fake finances to impress people and social media.
According to Investopedia, a large portion of Gen Z respondents to Credit One Bank's survey, The Social Status of Credit: How Millennials & Gen Z View Credit Scores, admitted that they’re willing to fake their finances in order to score dates and increase their social credibility.
Gen Z respondents claim they have overspent in order to seem more successful, both online and in person.
However, the good news is that nearly half (49.4%) of Gen Z are honest about their finances, stating they never exaggerate their income, finances, or job titles in order to seem more financially savvy than they truly are.
Of the 50.6% of respondents remaining, 16.9% said they’d only fibbed once or twice.
That leaves over one third (33.7%) of respondents who flex their nonexistent finances on the regular.
Additionally, 59% state they’ve overspent in order to appear more financially successful for dating, social media, or social situations. 39.40% admit to doing it regularly.
As per the survey, 16.58% of Gen Z admits to taking on debt or hurting their credit score in order to buy a lavish gift for a significant other, by far the most common reason respondents went into debt for gifts.
Meanwhile, 37.2% said they would be willing to overdraft their account or go into debt in order to impress a date or significant other. That said, over half of that population draws the line at $100 worth of debt.
