Boomers Are Perfectly Willing To Pay Serious Money For 11 Things Gen Z Sees As An Utter Waste
Vitaly Gariev | PexelsDisplays of wealth are rooted in generational values, so it's expected that baby boomers and Gen Zers have wildly different opinions on how they should spend their money. Boomers tend to value individualism and professional success, while Gen Zers are focused on flexibility and self-expression.
There's such a big disconnect that each of these generations define a status symbol in vastly different ways. Gen Z sees certain expenses as a waste, while boomers have no problem dropping serious money on a purchase.
Gen Zers see these things as a total waste, but boomers are willing to pay serious money for them
1. Fine china
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For many boomers, being gifted fine china was a rite of passage. It was a staple on their wedding registries or a gift from their grandparents, so it became a status symbol. Now, fine china is something Gen Z would never buy themselves, seeing it as a waste of money.
Gen Z is even turning down inherited fine china collections that their boomer family members cherished. Gen Z embodies their values of self-expression through their living spaces, wanting to make them comfortable instead of decking them out with items like this.
2. Landline phones
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For many boomers who still have landlines in their homes, it’s not necessarily a matter of financial preference or functionality, but a nostalgic reminder of their own childhood or early parenting days.
But Gen Zers, who grew up alongside technology and social media, can rely on their iPhones and devices to connect. They don't need to pay for an additional line in their home when their phones work just fine.
3. A college degree
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Despite a college degree once being something attainable for everyone, today, Gen Zers are disillusioned by it. According to a survey by Indeed, 51% of Gen Zers think college degrees are a waste of money. Meanwhile, only 20% of boomers think the same.
"Only 10% of the population had a college degree when boomers were graduating around 1970, compared to almost 40% of the population now. Also, the number of Americans with advanced degrees has increased significantly over the past 20 years, so there's a bit of an academic arms race taking place," Sean Lyons, Associate Dean at the School of Business and Economics at the University of Guelph, explained.
For Gen Z, it's this reality, combined with the financial debt they're often left with, as well as many jobs today being usurped by AI, that are making them question if their degrees were worth it.
4. Country club memberships
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Gen Zers and millennials aren’t distancing themselves from traditional country clubs over financial concerns, despite what discourse around their exclusive price tag seems to suggest. Rather, it's their traditional atmosphere that makes them see it as a big waste of money. Country clubs are full of rigid dress codes and void of diversity, which directly opposes their values of inclusivity and community.
But for many boomers, country club memberships are something they won't hesitate to drop large sums of cash on. It may be golf clubs, a sport that boomers continue to dominate over younger cohorts, or simply lifestyle and community centers that are viewed as more prestigious and exclusive.
5. Cable TV
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Nearly 40% of baby boomers still use cable TV daily, according to a survey from Statista, compared to just 17% of Gen Zers who prefer to rely on streaming services and social media for entertainment. Boomers place value in stability in their daily lives, so relying on cable TV at home is a familiar habit, not necessarily a financially conscious endeavor or defiant choice.
Considering they’re the only age demographic using cable TV in significant numbers, boomers clearly value and prefer this traditional mode of entertainment. In some boomer households, this expense can fuel a nostalgic and sentimental bond.
6. Diamond engagement rings
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While research shows that Gen Z couples tend to be more cost conscious when it comes to engagements and weddings, their transition away from diamond rings isn’t just a financial choice. Traditional engagement rings are incredibly expensive, and they aren't willing to invest in options like this when there are alternatives available.
From ethical concerns over sourcing diamonds to unconventional ideas about marriage and engagement norms, Gen Z would much rather opt for a nontraditional stone, while boomers take pride in purchasing expensive rings.
The true evolution of engagement rings and diamond jewelry is an eclectic one, where couples born in different decades were pressured to purchase and invest in many different styles of engagement rings, whether they were baby boomers or not.
7. Leather recliners
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Boomers largely embrace traditional recliner chairs for their sheer comfort and functionality. While some manufacturers have recently started to compensate for aesthetic shifts by steering away from big and bulky recliners, many boomers prefer the familiarity of the standard they grew up with.
For Gen Zers, not only do these recliners seem like a distraction to the eclectic and self-expressive spaces they're adamant about, but they’re wildly expensive for people in younger generations who get most of their home furnishings second-hand.
8. Real fur coats
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For Gen Zers, who are the most environmentally conscious and sustainable generation, the sheer ethical dilemma of producing real fur coats is enough to drive them away. But for boomers, they’re willing to pay serious money for these symbols of wealth and prestige.
While younger generations vehemently oppose fur garment production and demonize people consuming within the industry, fur coats were a staple of luxury when boomers were growing up in the 60s and 70s.
It’s possible that for boomers still wearing fur coats, it’s a nostalgic reminder of their childhood or a special family member, and not a consumerist choice or decision as it may be for younger people.
9. Expensive weddings
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Many people in younger generations like Gen Z are less attached to traditional expectations of marriage and starting a family in early adulthood. In fact, according to data from the U.S. Census Bureau, weddings before the age of 30 are on a steady decline compared to several decades ago.
Preferring to spend their money on experiences and the present moment, like eating at restaurants or going to concerts, even Gen Zers who are getting married are opting for microweddings over extravagant investments.
Still, boomers tend to prefer large-scale weddings that can serve as gathering grounds for extended family and friends. Compared to Gen Zers who don’t feel hopeful about making long-term investments like weddings, boomers were able to fund pricey weddings within their means.
10. Fine jewelry
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From diamond tennis bracelets to fancy earrings, there’s a clear disconnect between boomers and their younger counterparts over fine jewelry. For Gen Z, who can’t fathom saving up to purchase a home or afford basic necessities, being burdened with caring for a $8K necklace isn’t realistic.
Boomers, however, inherited expensive pieces or had the financial stability to purchase something, so it’s a much more favorable experience. But in a market that has been forced to change as a result of a younger demographic of consumers entering the industry, it's not something Gen Z is into.
11. New designer clothing
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Regardless of their exclusive pricing, Gen Zers have a commitment to sustainability and rejecting fast fashion. They challenge the ethical nature of many designer brands, and it largely steers them away from this industry.
While boomers invest in the pieces and designer clothes that characterized the wealthy and affluent people from their own childhood, Gen Zers prefer to shop second-hand or thrift clothing if they’re going to invest in designer pieces at all.
Zayda Slabbekoorn is a senior editorial strategist with a bachelor's degree in social relations & policy and gender studies who focuses on psychology, relationships, self-help, and human interest stories.
